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October 24, 2016

OASDI and SSI Program Rates & Limits, 2017

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The Social Security Administration (SSA) has published the Old-Age, Survivors, and Disability Insurance (OASDI) and Supplemental Security Income (SSI)  for 2017

  They can be viewed

here

Social Security (OASDI) Program Rates & Limits

  2017
a. Self-employed persons pay a total of 15.3 percent—12.4 percent for OASDI and 2.9 percent for Medicare.
b. This rate does not reflect the additional 0.9 percent in Medicare taxes certain high-income taxpayers are required to pay. See IRS information on this topic.
Tax Rates (percent)  
Social Security (Old-Age, Survivors, and Disability Insurance)  
Employers and Employees, each a 6.20
Medicare (Hospital Insurance)  
Employers and Employees, each a,b 1.45
Maximum Taxable Earnings (dollars)  
Social Security 127,200
Medicare (Hospital Insurance) No limit
Earnings Required for Work Credits (dollars)  
One Work Credit (One Quarter of Coverage) 1,300
Maximum of Four Credits a Year 5,200
Earnings Test Annual Exempt Amount (dollars)  
Under Full Retirement Age for Entire Year 16,920
For Months Before Reaching Full Retirement Age in Given Year 44,880
Beginning with Month Reaching Full Retirement Age No limit
Maximum Monthly Social Security Benefit for Workers Retiring at Full Retirement Age (dollars) 2,687
Full Retirement Age 66
Cost-of-Living Adjustment (percent) 0.3
Supplemental Security Income (SSI) Program Rates & Limits 2017
a. The earned income exclusion consists of the first $65 of monthly earnings, plus one-half of remaining earnings.
Monthly Federal Payment Standard (dollars)  
Individual 735
Couple 1,103
Cost-of-Living Adjustment (percent) 0.3
Resource Limits (dollars)  
Individual 2,000
Couple 3,000
Monthly Income Exclusions (dollars)  
Earned Income a 65
Unearned Income 20
Substantial Gainful Activity (SGA) Level for the Nonblind Disabled (dollars) 1,170

Copied from https://www.ssa.gov/policy/docs/quickfacts/prog_highlights/RatesLimits2017.html

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