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December 5, 2017

Corrected Social Security Wage Base for 2018 (article)

On November 27, 2018, the Social Security Administration announced a correction to the 2018 wage base amount.  At the time the initial cost of living amounts for 2018 were released in October (see 2018 Social Security Cost-of-Living Adjustment, Benefit Beat, 11/2/17), the wage base was set to increase to $128,700 in 2018.  The new amount for 2018, based on updated wage data reported to Social Security, has been lowered to $128,400.


 

The information contained in this article is provided as general guidance and may be affected by changes in law or regulation. This article is not intended to replace or substitute for accounting or other professional advice. Please consult a CBIZ professional. This information is provided as-is with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein. 

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