Social Security Wage Base Increases to $132,900 for 2019

The Old-Age, Survivors, and Disability Insurance taxable wage base is to increase to $132,900 in 2019, up from $128,400 in 2018, the Social Security Administration said Oct. 11.

The maximum 2019 OASDI portion of the Federal Insurance Contributions Act tax payable by each employee is $8,239.80, or 6.2 percent of the wage base, up from $7,960.80. Employers match the employee amount with an equal contribution. The Medicare or Hospital Insurance tax rate remains 1.45 percent and is applicable to all wages paid during the year. An additional 0.9 percent in Medicare taxes applies to individuals with earned income of more ...