From Social Security's
press office:
2015 SOCIAL SECURITY CHANGES
Cost-of-Living Adjustment (COLA):
Based on the increase in the Consumer Price Index (CPI-W) from the
third quarter of 2013 through the third quarter of 2014, Social Security
and Supplemental Security Income (SSI) beneficiaries will receive a 1.7
percent COLA for 2015. Other important 2015 Social Security information
is as follows:
Tax Rate:
|
2014 |
2015 |
Employee |
7.65% |
7.65% |
Self-Employed |
15.30% |
15.30% |
NOTE:
The 7.65% tax rate is the combined rate for Social Security and
Medicare. The Social Security portion (OASDI) is 6.20% on earnings up
to the applicable taxable maximum amount (see below). The Medicare
portion (HI) is 1.45% on all earnings. Also, as of January 2013,
individuals with earned income of more than $200,000 ($250,000 for
married couples filing jointly) pay an additional 0.9 percent in Medicare taxes. The tax rates shown above do not include the 0.9 percent.
|
Maximum Taxable Earnings:
|
2014 |
2015 |
Social Security (OASDI only) |
$117,000 |
$118,500 |
Medicare (HI only) |
N o L i m i t |
|
Quarter of Coverage:
|
2014 |
2015 |
|
$1,200 |
$1,220 |
|
Retirement Earnings Test Exempt Amounts:
|
2014 |
2015 |
Under full retirement age
NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit. |
$15,480/yr.
($1,290/mo.) |
$15,720/yr.
($1,310/mo.) |
The year an individual reaches full retirement age
NOTE: Applies only to earnings for months prior to
attaining full retirement age. One dollar in benefits will be withheld
for every $3 in earnings above the limit.
There is no limit on earnings beginning the month an individual attains full retirement age. |
$41,400/yr.
($3,450/mo.) |
$41,880/yr.
($3,490/mo.) |
|
Social Security Disability Thresholds:
|
2014 |
2015 |
Substantial Gainful Activity (SGA)
Non-Blind
Blind
|
$1,070/mo.
$1,800/mo. |
$1,090/mo.
$1,820/mo. |
Trial Work Period (TWP) |
$770/mo. |
$ 780/mo. |
|
Maximum Social Security Benefit:
|
2014 |
2015 |
Worker Retiring at Full Retirement Age |
$2,642/mo. |
$2,663/mo. |
|
SSI Federal Payment Standard:
|
2014 |
2015 |
Individual |
$721/mo. |
$ 733/mo. |
Couple |
$1,082/mo. |
$1,100/mo. |
|
SSI Resources Limits:
|
2014 |
2015 |
Individual |
$2,000 |
$2,000 |
Couple |
$3,000 |
$3,000 |
|
SSI Student Exclusion:
|