Social Security figures at-a-glance
| 2010 | 2011 | |
| Social Security Cost-of-living adjustment (COLA) | ||
| For Social Security and Supplemental Security Income (SSI) beneficiaries | 0% | 0% |
| Tax rate | ||
| FICA tax--Employee1 | 7.65% | 5.65% |
| Social Security (OASDI) portion of tax1 | 6.20% | 4.20% |
| Medicare (HI) portion of tax | 1.45% | 1.45% |
| Self-Employed | 15.30% | 13.30% |
| Social Security (OASDI) portion of tax1 | 12.40% | 10.40% |
| Medicare (HI) portion of tax | 2.90% | 2.90% |
| Maximum taxable earnings | ||
| Social Security (OASDI only) | $106,800 | $106,800 |
| Medicare (HI only) | No limit | No limit |
| Quarter of coverage | ||
| Earnings required | $1,120 | $1,120 |
| Retirement earnings test--exempt amounts | ||
| Under full retirement age | ||
| Benefits reduced by $1 for each $2 earned above: | ||
| Yearly figure | $14,160 | $14,160 |
| Monthly figure | $1,180 | $1,180 |
| Year individual reaches full retirement age | ||
| Benefits reduced by $1 for each $3 earned above (applies only to earnings for months prior to attaining full retirement age): | ||
| Yearly figure | $37,680 | $37,680 |
| Monthly figure | $3,140 | $3,140 |
| Beginning the month individual attains full retirement age | No limit on earnings | No limit on earnings |
| Social Security disability thresholds | ||
| Substantial gainful activity (SGA): for the sighted (monthly figure) | $1,000 | $1,000 |
| Substantial gainful activity: for the blind (monthly figure) | $1,640 | $1,640 |
| Trial work period (TWP) (monthly figure) | $720 | $720 |
| SSI federal payment standard | ||
| Individual (monthly figure) | $674 | $674 |
| Couple (monthly figure) | $1,011 | $1,011 |
| SSI resource limits | ||
| Individual | $2,000 | $2,000 |
| Couple | $3,000 | $3,000 |
| SSI student exclusion limits | ||
| Monthly limit | $1,640 | $1,640 |
| Annual limit | $6,600 | $6,600 |
| Maximum Social Security benefit | ||
| Worker retiring at full retirement age (monthly figure) | $2,346 | $2,366 |
| Formula for Monthly Primary Insurance Amount (PIA) (90% of first X of AIME + 32% of the AIME over X and through Y + 15% of AIME over Y) | X=$761 Y=$4,586 | X=$749 Y=$4,517 |
1 The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 included a 2% reduction in the Social Security (OASDI) portion of FICA tax for 2011.