Cost-of-Living Adjustment (COLA):
Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2013 through the third quarter of 2014, Social Security and Supplemental SecurityIncome (SSI) beneficiaries will receive a 1.7 percent COLA for 2015. Other important 2015 Social Security information is as follows:
2014 2015
Tax Rate:
Employee 7.65% 7.65%
Self-Employed15.30% 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. Also, as of January 2013, individuals with earned income of more than $200,000 ($250,000 for married couples filing jointly) pay an additional 0.9 percent in Medicare taxes. The tax rates shown above do not include the 0.9 percent.
Maximum Taxable Earnings:
Social Security (OASDI only) $117,000 $118,500
Medicare (HI only) N o L i m i t
Quarter of Coverage:
$1,200 $1,220
Retirement Earnings Test Exempt Amounts:
Under full retirement age$15,480/yr. $15,720/yr.
($1,290/mo.) ($1,310/mo.)
NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit.
The year an individual reaches full $41,400/yr. $41,880/yr.
retirement age ($3,450/mo.) ($3,490/mo.)
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.
SSA Press Office 440 Altmeyer Building 6401 Security Blvd. Baltimore, MD 21235 410-965-8904 FAX 410-966-9973
There is no limit on earnings beginning the month an individual attains full retirement age.
Social Security Disability Thresholds:
Substantial Gainful Activity (SGA)
Non-Blind $1,070/mo. $1,090/mo.
Blind $1,800/mo. $1,820/mo.
Trial Work Period (TWP) $ 770/mo. $ 780/mo.
Maximum Social Security Benefit: Worker Retiring at Full Retirement Age:
SSI Federal Payment Standard:
Individual$ 721/mo. $ 733/mo.
Couple$1,082/mo. $1,100/mo.
SSI Resources Limits:
Individual$2,000 $2,000
Couple $3,000 $3,000
SSI Student Exclusion:
Monthly limi t$1,750 $1,780
Annual limi t$7,060$7,180
oEstimated Average Monthly Social Security Benefits Payable in January 2015:
Before After
1.7% COLA 1.7% COLA
All Retired Workers $1,306 $1,328
Aged Couple, Both Receiving Benefits $2,140 $2,176
Widowed Mother and Two Children $2,635 $2,680
Aged Widow(er) Alone $1,253 $1,274
Disabled Worker, Spouse and $1,943 $1,976
One or More Children
All Disabled Workers $1,146 $1,165

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