Social Security Maximum Released for 2009

Created on October 17, 2008 - 3:00pm

 2009 OASDI Maximum set at $106,800

Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The same annual limit also applies when those earnings are used in a benefit computation [such as relocation].  For earnings in 2009, this base is $106,800.  
   -- source:  Social Security Administration

At 6.2% of an individual's income up to $106,800, this change increases the maximum OASDI contributions an individual would pay to $6,621.60 in 2009, up from $6,324.00 for tax year 2008.  Medicare contributions remain unchanged @ 1.45% of an individual's income without limit.