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Here's the salary you need if you want the maximum Social Security benefit. ... 2007. $97,500. 1983. $35,700. 2008. $102,000 ... That's because the income limits for Social Security income tax ...
It takes a long career earning a high salary to achieve the maximum Social Security benefit. ... 2007. $97,500. 1983. $35,700. 2008. $102,000 ... you'll have a relatively high annual income from ...
In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. [1] [2] A person with $10,000 of gross income had $620.00 withheld as Social Security tax from his check and the employer sent an additional $620.00. A person with $130,000 of ...
The Average Indexed Monthly Earnings (AIME) is used in the United States' Social Security system to calculate the Primary Insurance Amount which decides the value of benefits paid under Title II of the Social Security Act under the 1978 New Start Method. Specifically, Average Indexed Monthly Earnings is an average of monthly income received by ...
Here's the salary you need if you want the maximum Social Security benefit. ... 2007. $97,500. 1983. $35,700. 2008. $102,000 ... but likely still need to supplement your Social Security income ...
Your income is one of the biggest factors deciding ... That effectively sets the bar for the salary you need to receive the maximum Social Security benefit in retirement. ... 2007. $97,500. 1983 ...
Being incapable of substantial gainful employment is one of the criteria for eligibility for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) benefits. It is known as the "SGA requirement," and is defined in Section 520 of the Social Security Act.
The maximum earnings reported to Social Security. ... 2007. $97,500. 1983. $35,700. 2008. ... If you can keep working to reach 35 years of earnings history or collect a high income now to offset ...