Social Security Wage Limit 2024 History. The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). For earnings in 2024, this base is $168,600.

The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each. Earnings trigger a trial work period.