Social Security Wage Base Increases to $132,900 for 2019
On October 11, the Social Security Administration (SSA) announced that the 2019 social security wage base will be $132,900, an increase of $4,500 from $128,400 in 2018 [SSA, Press Release, 10-11-18].
The FICA tax rate remains 7.65% for 2019 up to the social security wage base (see the Social Security Fact Sheet: 2019 Social Security Changes). The maximum social security tax employees and employers will each pay in 2019 is $8,239.80, an increase of $279.00 from $7,960.80 in 2018.
To learn more about federal and state laws, regulations, and information to keep your company's payroll operations in compliance, check out Payroll Source Plus!