OASDI and SSI Program Rates & Limits, 2012

(released February 2012)

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Social Security (OASDI) Program Rates & Limits 2012
Tax Rates (percent)  
Social Security (Old-Age, Survivors, and Disability Insurance)  
Employers 6.20
Employees a 4.20
Medicare (Hospital Insurance)  
Employers and Employees, each a 1.45
Maximum Taxable Earnings (dollars)  
Social Security 110,100
Medicare (Hospital Insurance) No limit
Earnings Required for Work Credits (dollars)  
One Work Credit (One Quarter of Coverage) 1,130
Maximum of Four Credits a Year 4,520
Earnings Test Annual Exempt Amount (dollars)  
Under Full Retirement Age for Entire Year 14,640
For Months Before Reaching Full Retirement Age in Given Year 38,880
Beginning with Month Reaching Full Retirement Age No limit
Maximum Monthly Social Security Benefit for Workers Retiring at Full Retirement Age (dollars) 2,513
Full Retirement Age 66
Cost-of-Living Adjustment (percent) 3.6
a. Self-employed persons pay a total of 13.3 percent—10.4 percent for OASDI and 2.9 percent for Medicare.
Supplemental Security Income (SSI) Program Rates & Limits 2012
Monthly Federal Payment Standard (dollars)  
Individual 698
Couple 1,048
Cost-of-Living Adjustment (percent) 3.6
Resource Limits (dollars)  
Individual 2,000
Couple 3,000
Monthly Income Exclusions (dollars)  
Earned Income a 65
Unearned Income 20
Substantial Gainful Activity (SGA) Level for the Nonblind Disabled (dollars) 1,010
a. The earned income exclusion consists of the first $65 of monthly earnings, plus one-half of remaining earnings.