Social Security Max 2024 Contribution Over 55. The social security administration deducts $1 from your. The social security benefits formula is modified each year based on changes in the national.

Thus, an individual with wages equal to or larger than $168,600 would contribute $10,453.20 to the oasdi program in 2024, and his or her employer. The initial benefit amounts shown in the table below assume retirement in january of the stated year, with.