2009 Statistics

Social Security Factors
On October 14, 2005 the Social Security Administration announced updated factors for 2006.
Wage Base      The maximum amount of earnings taxable in 2009 is $106,800 for Social Security purposes.
COLA              The cost-of-living increase in benefits is 5.8% applicable to December 2008 benefits, payable in January 2009.
Wage Index     The Average Annual Wage figure of $40,405.48 will be used in computing benefits for workers who become eligible in 2009. This figure is based on data for the last complete year (2007) and was used to determine other wage-indexed numbers given in the table below.
FACTOR 2008 2009
Wage Base:    
    for Social Security $102,000 $106,800
    for Medicare No Limit No Limit
    old-law wage base, for indexing PBGC maximum, etc. $72,600 $75,900
Cost-of-living increase (applies to December benefits, payable in January) 2.3% 5.8%
Average annual wage (based on data 2 years earlier) $38,651.41 $40,405.48
PIA formula, 1st bend point $711 $744
PIA formula, 2nd bend point $4,288 $4,483
Maximum family benefit, 1st bend point $909 $950
Maximum family benefit, 2nd bend point $1,312 $1,372
Maximum family benefit, 3rd bend point $1,711 $1,789
Retirement test exempt amount (annual):    
    below SSNRA $13,560 $14,160
    year of SSNRA $36,120 $37,680
Wages needed for one quarter of coverage $1,050 $1,090
FICA (employee) tax rate:    
    Social Security (OASDI) 6.20% 6.20%
    Medicare (HI) 1.45% 1.45%
Total: 7.65% 7.65%
SECA (self-employed) tax rate, total 15.30% 15.30%