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OASDI and SSI Program Rates & Limits, 2016
(released October 2015)
The October 2019 release of “OASDI and SSI Rates & Limits” was the last edition published by the Office of Retirement and Disability Policy. Current rates and limits are available from SSA's Press Office.
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| Old-Age, Survivors, and Disability Insurance (OASDI) | 2016 |
|---|---|
| Tax Rates (percent) | |
| Social Security (Old-Age, Survivors, and Disability Insurance) | |
| Employers and Employees, each a | 6.20 |
| Medicare (Hospital Insurance) | |
| Employers and Employees, each a,b | 1.45 |
| Maximum Taxable Earnings (dollars) | |
| Social Security | 118,500 |
| Medicare (Hospital Insurance) | No limit |
| Earnings Required for Work Credits (dollars) | |
| One Work Credit (One Quarter of Coverage) | 1,260 |
| Maximum of Four Credits a Year | 5,040 |
| Earnings Test Annual Exempt Amount (dollars) | |
| Under Full Retirement Age for Entire Year | 15,720 |
| For Months Before Reaching Full Retirement Age in Given Year | 41,880 |
| Beginning with Month Reaching Full Retirement Age | No limit |
| Maximum Monthly Social Security Benefit for Workers Retiring at Full Retirement Age (dollars) | 2,639 |
| Full Retirement Age | 66 |
| Cost-of-Living Adjustment (percent) | 0.0 |
| a. Self-employed persons pay a total of 15.3 percent—12.4 percent for OASDI and 2.9 percent for Medicare. | |
| b. This rate does not reflect the additional 0.9 percent in Medicare taxes certain high-income taxpayers are required to pay. See IRS information on this topic. | |
| Supplemental Security Income (SSI) | 2016 |
|---|---|
| Monthly Federal Payment Standard (dollars) | |
| Individual | 733 |
| Couple | 1,100 |
| Cost-of-Living Adjustment (percent) | 0.0 |
| 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) | 1,130 |
| a. The earned income exclusion consists of the first $65 of monthly earnings, plus one-half of remaining earnings. | |