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.
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