Social Security Administration 2023 Increase
Social Security Administration 2023 Increase. This annual adjustment, which helps benefits keep pace with. Analysts estimate that the maximum amount will go up to $174,900.
The unusually high cola in 2023 (8.7%) was the largest increase in 40 years. The maximum amount of earnings subject to social security payroll taxes was $168,600 for 2024, up from $160,200 in 2023.