2023 TIER I EARNINGS BASE AND TAX RATES
Annual Maximum - $160,200.00
Employee and Employer Tax Rate - 6.2%
Maximum Payable by an Employee & Employer - $9,932.40
2023 TIER II EARNINGS BASE AND TAX RATES
Annual Maximum - $118,800.00
Employee Tax Rate - 4.9%
Maximum Payable by an Employee - $5,821.20
Employer Tax Rate - 13.1%
Maximum Payable by an Employer - $15,562.80
2023 MEDICARE HOSPITAL INSURANCE
EARNINGS BASE AND TAX RATES
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 $160,200.00
Maximum Payable by an Employee - $18,076.50
Maximum Payable by an Employer - $27,818.10
(Additional Taxes are 0.9% of Earnings Above
$200,000.00 - Filing Individually)
SSA QUARTER OF COVERAGE EARNINGS NEEDED
In 2023 - $1,640.00 (Earn up to 4 Quarters per Year)
2023 EMPLOYER RUIA TAX RATE
2.15% TO 12.0% on First $1,895.00 per month
EMPLOYEE RUIA 2022 QUALIFYING EARNINGS
For Benefit Year 2023 (Beginning July 1, 2023) - $4,387.50
RUIA DAILY BENEFIT RATE
For Benefit Year 2023 (Beginning July 1, 2023) - $87.00
BASIC MEDICARE PREMIUM
Part B beginning in 2023 - $164.90
COST-OF-LIVING - DECEMBER 2022
Tier I - 8.7%; Tier II - 2.8%
WORK DEDUCTIONS EXEMPT AMOUNTS*
Retirement and Survivor Work Deduction Limitations
Annuitants Attaining Full Retirement Age (FRA)
(For Months Prior to FRA in the Calendar Year)
Monthly - $4,710.00; Annually - $56,520.00
($1.00 Deduction for Each $3.00 of Excess Earnings)
Under FRA
(If Under FRA for the Entire Calendar Year)
Monthly - $1,770.00; Annually - $21,240.00
($1.00 Deduction for Each $2.00 of Excess Earnings)
Disability Earnings Limitations Amounts
Monthly - $1,150.00; Annually - $14,375.00
*All Earnings Must be Reported by Calling 1-877-772-5772.
Failure to Report Earnings Could Lead to Penalties.