Social Security October 2024 Increase. The maximum amount of earnings subject to social security payroll taxes was $168,600 for 2024, up from $160,200 in 2023. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024, the social security administration announced.
The maximum amount of earnings subject to social security payroll taxes was $168,600 for 2024, up from $160,200 in 2023. That could mean the payment increases will start in october, but it’s still uncertain.