Social Security Wage Limit 2024 Chart

Social Security Wage Limit 2024 Chart. We call this annual limit the contribution and benefit base. In 2024, retirees receiving social security benefits will be able to earn $59,520 in the year they reach full retirement age before their benefits are reduced by $1 for every $3 in.

The highest social security retirement benefit for an individual starting benefits in 2024 is $4,873 per month, according to the social security administration. So, if you earned more than $160,200 this last year, you didn’t have to pay the social security.