Income Cap For Social Security 2024. In 2024, the wage cap rose to $168,600 but was $160,200 the year before. In reality, a new study by two of my urban institute colleagues finds that failing to fix the program’s looming financial shortfall would throw 3.8 million seniors into.
The social security administration also announced the 2024 wage cap. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400).