Social Security Administration publishes wage base projections for 2025 through 2033

09 May 2024

For those responsible for employment tax budgets, or just curious what the future may hold, following are the estimated Social Security wage-base limits for employers and employees for calendar years 2025 through 2033 as recently published by the Social Security Administration (SSA). (Social Security Administration press release, 5-6-2024; The 2024 OASDI Trustees Report, Table V.C.1 (pg.122.)

In reviewing the following charts, keep in mind that the SSA provides three estimates — high, intermediate and low. For 2024, the actual wage base is $168,600, higher than the projected intermediate, high-cost and low-cost estimate of $167,700 in the March 2023 Annual Report of the Board of Trustees. (See Tax Alert 2023-0651.)

The May 2024 projections reflect an estimated increase in 2025 to $174,900 for intermediate and high-cost and $175,500 for low-cost.

Projected Social Security wage base information as provided by the SSA in May 2024

Calendar year	Intermediate estimated wage base $	Low-cost estimated wage base $	High-cost estimated wage base $
2024 (actual)	168,600	168,600	168,600
2025	174,900	175,500	174,900
2026	181,800	184,200	178,500
2027	188,100	194,100	181,200
2028	195,900	204,000	187,800
2029	204,000	215,100	194,700
2030	213,600	227,100	201,900
2031	222,900	239,700	209,100
2032	232,500	252,600	216,600
2033	242,700	267,000	224,100

Projected Social Security wage base information as provided by the SSA in March 2023

(See Tax Alert 2023-0651)

Calendar year	Intermediate estimated wage base $	Low-cost estimated wage base $	High-cost estimated wage base $
2023 (actual)	160,200	160,200	160,200
2024	167,700	167,700	167,700
2025	174,900	175,500	171,000
2026	181,200	185,700	177,300
2027	188,700	197,100	183,600
2028	196,500	208,200	190,200
2029	204,600	219,300	196,800
2030	212,700	231,000	202,500
2031	221,400	243,000	207,900
2032	230,100	255,900	213,600

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Contact Information

For additional information concerning this Alert, please contact:

Workforce Tax Services - Employment Tax Advisory Services

Kenneth Hausser | kenneth.hausser@ey.com
Debera Salam | debera.salam@ey.com
Kristie Lowery | kristie.lowery@ey.com

Published by NTD’s Tax Technical Knowledge Services group; Jennifer A Brittenham, legal editor

Document ID: 2024-0936