2020 Tier I Earnings Base and Tax Rates
Annual Maximum - $137,700.00
Employee and Employer Tax Rate - 6.2%
Maximum Payable by an Employee and Employer - $8,537.40
2020 Tier II Earnings Base and Tax Rates
Annual Maximum - $102,300.00
Employee Tax Rate - 4.9%
Maximum Payable by an Employee - $5,012.70
Employer Tax Rate - 13.1%
Maximum Payable by an Employer - $13,401.30
2020 Medicare Hospital Insurance Earnings Base and Tax Rate
Annual Maximum - No Limit
Employee and Employer Tax Rate - 1.45%
Total Tier I, Tier II, & Medicare Hospital Insurance Maximum Tax
Based on Earnings of $137,700.00
Maximum Payable by an Employee - $15,546.75
Maximum Payable by an Employer - $23,935.35
(Additional Taxes are 0.9% of Earnings Above $200,000.00 - Filing Individually)
Amount Needed for Quarter of Social Security Coverage
For 2020 - $1,410.00 (Earn up to 4 Quarters per Year)
2020 Employer RUIA Tax Rate
0.65 - 12.0% on First $1,655.00 per month
Employee RUIA 2019 Qualifying Earnings
For Benefit Year 2020 (Beginning July 1, 2020) - $4,012.50
RUIA Daily Benefit Rate
For Benefit Year 2020 (Beginning July 1, 2020) - $80.00
Basic Medicare Premium
Part B Beginning in 2020 - $144.60
Cost-of-Living Increase - December 2019
Tier I - 1.6%
Tier II - 0.5%
WORK DEDUCTION EXEMPT AMOUNTS*
Retirement and Survivor Work Deductions Limitations
Annuitants Attaining Full Retirement Age (FRA)
(For Months Prior to FRA in Calendar Year)
Monthly - $4,050.00
Annually - $48,600.00
($1.00 Deduction For Each $3.00 of Excess Earnings)
Annuitants Under FRA
(If Under the FRA for the Entire Calendar Year)
Monthly - $1,520.00
Annually - $18,240.00
($1.00 Deduction For Each $2.00 of Excess Earnings)
Disability Earnings Limitations Amounts
Monthly - $990.00
Annually - $12,375.00
*All Earnings Must be Reported by Calling 1-877-772-5772.
Failure to Report Could Lead to Penalties.