Social Security Wage Base Stays at $118,500 for 2016

The Social Security Administration (SSA) has announced that the maximum amount of earnings subject to OASDI Social Security tax will remain at $118,500 for 2016, the same as for 2015. The SSA cost-of-living adjustments (COLAs) are based on the rise in the average Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of 2014 through the third quarter of 2015.

Likewise, monthly Social Security and SSI benefits will not automatically increase in 2016 for nearly 65 million Americans.