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How many years before retirement do you have to have maximum social security withholding to get maximum social security benefits?
Wiki User
∙ 13y ago
Generally you need 40 credits. You should go to the SSA gov web site for more information.
Click on the below link
Wiki User
∙ 14y ago
Wiki User
∙ 13y ago35 years
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How much does social security cost per year?
For 2008, the maximum social security tax withholding for an individual is $6,324, the tax on $102,000. For 2009, the maximum social security tax withholding for an individual is $6,622, the tax on $106,800.
Retirement Planner?
Retirement Planner Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your social security benefits up to, but not over, the maximum.
Retirement Planner with Retirement Earnings?
Retirement Planner with Retirement Earnings Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your social security benefits up to, but not over, the maximum.
Retirement Pension Planner?
Retirement Pension Planner Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your social security benefits up to, but not over, the maximum.
What is the maximum 2004 social security withholding?
For the year 2004 the maximum earnings subject to the 6.2% social security tax was 87,900. For the year 2004 the amount was 5449.80 maximum contribution amount to the OASDI program social security benefit program.
Did the maximum social security withholding amount increase in 2010?
No. The last increase was in 2008; there will be no change for 2010 or 2011.
Are the monthly social security retirement checks based on your income when you worked or on quarters for everyone reguardless of income level?
Social security benefits are based on your income, adjusted to represent current value; however, there are minimum and maximum benefit levels.
What was the 1994 maximum Social Security withholding amount?
In 1990, the Social Security contribution base was $51,300. One Social Security work credit cost $520 in earned wages, for a maximum of four credits per year at $2080.
What if you paid too much social security tax?
The wage base limit for social security tax withholding for 2008 is $102,000. The withholding is 6.2%, so the maximum per employee for the year is $6,324. Any amount withheld beyond that limit due to multiple employers is available as a credit against your income tax. If one employer erroneously withheld excess social security tax, that employer should make the correction.
i would like to know if i am entitled to my retirementbenefits?
If you’re inquiring about your retirement benefits entitlement, you may be eligible for government benefits such as the Age Pension or a concession card. You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. To be eligible for most types of benefits (such as benefits based on blindness or retirement), you must have earned an average of one work credit for each calendar year between age 21 and the year in which you reach age 62 or be a person with a disability or blindness, up to a maximum of 40 credits.
What is the maximum you can earn in 2010?
For the social security benefits earnings test amount. The retirement earnings test exempt amount when you are under your NRA (normal retirement age) the annual exempt amount in 2010 is $14,160More information is available at the enclosed website address ssa.gov/
Born in 1975 what would be my retirement age to get maximum social security benefit?
To get your full retirement benefit, you need to be 65 or older. That will be in the year 2040.
