NY Social Security’s adjustments for 2009

December 27, 2008

These are Social Security’s tables showing all of the major adjustments for 2009, from the Social Security Administration.

Tax Rate	2008!	2009
Employee	7.65%	7.65%
Self-Employed	15.30%	15.30%
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

Retirement Earnings Test Exempt Amounts:

2008

2009

Under full retirement age
NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit.

$13,560/yr.
($1,130/mo.)

$14,160/yr.
! ($1,180/mo.)

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.

$36,120/yr.
($3,010/mo.)

$37,680/yr.
($3,140/mo.)

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.
Blind	$1,570/mo.	$1,640/mo.
Trial Work Period (TWP)		$ 670/mo.	$ 700/mo.

!

Maximum Social Security Benefit: Worker Retiring at Full Retirement Age	2008	2009
	$2,185/mo.	$2,323/mo. SSI Federal Payment Standard: 2008 2009 Individual $ 637/mo. $ 674/mo. Couple $ 956/mo.! $1,011/mo.< /div>   SSI Resources Limits: 2008 2009 Individual $2,000 $2,000 Couple $3,000 $3,000   SSI Student Exclusion: 2008 2009 Monthly Limit $1,550 $1,640 ! Annual Limit $6,240 $6,600   Estimated Average Monthly Social Security Benefits Payable in January 2009: Before 5.8% COLA After 5.8% COLA All Retired Workers $1,090   $1,153   Aged Couple, Both Receiving Benefits $1,773 $1,876   Widowed Mother and Two Children $2,268 $2,399   Aged Widow(er) Alone $1,051! $1,112   Disabled Worker, Spouse and One or More Children $1,695 $1,793   All Disabled Workers $1,006 $1,064

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