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The Social Security Administration (SSA) announced a 2.5% cost-of-living adjustment (COLA) for 2025. That’s down from 3.2% this year but in line with the 2.6% average over the past two decades.
While SSI payments were updated on Dec. 31, 2024, Social Security benefits will increase in January 2025. Higher Earnings Cap for Social Security Taxes. Social Security taxes will remain at the ...
For plans like a 401(k), 403(b), Thrift Savings Plan, some 457 plans and Simple IRAs and 401(k) plans, the total contribution limit for participants age 60 to 63 in 2025 is $34,750.
For the 2025 tax year, the IRS is increasing the annual contribution limit for 401(k) plans by $500 from the current limit of $23,000 in 2024 to $23,500 in 2025. Those limits also apply to several ...
Here's a change that applies to people who are still working, as well as those about to start collecting Social Security. In 2025, the contribution and benefit base is rising to $176,100 from the ...
The general Social Security earnings-test limit in 2025 is $23,400 (up from $22,320 in 2024). You'll have $1 in Social Security withheld for every $2 you earn above that limit.
Because of some inflation-related tweaks to the way Social Security is calculated and how past years' earnings are indexed for inflation, the maximum in 2025 will be $4,018 per month, or more than ...
The increase in 2025 will perhaps have the biggest impact on those earning between $168,600 and $176,100 per year, as you'll face Social Security tax on income that wasn't previously taxed in 2024.