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  2. Social Security Wage Base - Wikipedia

    en.wikipedia.org/wiki/Social_Security_Wage_Base

    It is also the maximum amount of covered wages that are taken into account when average earnings are calculated in order to determine a worker's Social Security benefit . In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. [1 ...

  3. History of Social Security in the United States - Wikipedia

    en.wikipedia.org/wiki/History_of_Social_Security...

    The American social security system (1949) comprehensive old overview. Burns, Eveline M. Toward Social Security: An Explanation of the Social Security Act and a Survey of the Larger Issues (1936) online; Davies, Gareth, and Martha Derthick. "Race and social welfare policy: The Social Security Act of 1935." Political Science Quarterly 112.2 ...

  4. Payroll - Wikipedia

    en.wikipedia.org/wiki/Payroll

    A payroll is a list of employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain. [1] Along with the amounts that each employee should receive for time worked or tasks performed, payroll can also refer to a company's records of payments that were previously ...

  5. Retirement: These 11 States Tax Your Social Security Money - AOL

    www.aol.com/retirement-13-states-tax-social...

    Social security beneficiaries must pay federal taxes on their social security income if their total provisional income in retirement exceeds $25,000 as an individual or $32,000 for married couples ...

  6. Social Security Got an 8.7% COLA in 2023. Will Seniors Ever ...

    www.aol.com/social-security-got-8-7-075900470.html

    June 4, 2024 at 12:59 AM. In 2023, seniors on Social Security saw their benefits rise by 8.7% as one of the most generous cost-of-living adjustments, or COLAs, arrived in the midst of soaring ...

  7. Here's the Average Social Security Spousal Benefit Today - AOL

    www.aol.com/heres-average-social-security...

    The average monthly Social Security spousal benefit today is $911.42. That means the typical recipient of those benefits is getting close to $11,000 a year from Social Security -- not too shabby a ...

  8. Social Security (United States) - Wikipedia

    en.wikipedia.org/wiki/Social_Security_(United...

    Social Security payments to beneficiaries, which totaled $1.23 trillion in 2022, are generally financed by payroll taxes on workers in Social Security covered employment, trust fund reserves, and some income taxation of Social Security benefits. The payroll tax rate totals 12.4 percent of earnings up to the taxable maximum (the rate is 6.2 ...

  9. Federal Insurance Contributions Act - Wikipedia

    en.wikipedia.org/wiki/Federal_Insurance...

    The Federal Insurance Contributions Act is a tax mechanism codified in Title 26, Subtitle C, Chapter 21 of the United States Code. [3] Social security benefits include old-age, survivors, and disability insurance (OASDI); Medicare provides hospital insurance benefits for the elderly. The amount that one pays in payroll taxes throughout one's ...

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