These are Social Security’s tables showing all of the major adjustments for 2009, from the Social Security Administration.
|NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings.!|
|Maximum Taxable Earnings:||2008||2009|
|Social Security (OASDI only)||$102,000||$106,800|
|Medicare (HI only)||No Limit|
|Quarter of Coverage:||2008||2009|
|Earnings needed to earn one Social Security credit||$1,050||$1,090|
Under full retirement age
NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit.
The year an individual reaches full retirement age
NOTE: Applies only to earnings for months prior to attaining full retirement age. One dollar in benefits will be withheld for every $3 in earnings above the limit.
There is no limit on earnings beginning the month an individual attains full retirement age. !
|Social Security Disability Thresholds:||2008||2009|
|Substantial Gainful Activity (SGA)|
|No! n-Blind||$ 940/mo.||$ 980/mo.|
|Trial Work Period (TWP)||$ 670/mo.||$ 700/mo.|
|Maximum Social Security Benefit:
Worker Retiring at Full Retirement Age