Social Security Benefits, Taxable Wages Will Increase in 2021
Social Security recipients will see a 1.3% cost-of-living adjustment, and the maximum amount of earnings subject to the Social Security tax will increase by $5,100.
Social Security recipients will see a 1.3% cost-of-living adjustment, and the maximum amount of earnings subject to the Social Security tax will increase by $5,100.
This affects the taxable wage base for permitted disparity in defined contribution (DC) plan contributions.