2024 Social Security Increase Cola. The maximum amount of earnings subject to social security payroll taxes was $168,600 for 2024, up from $160,200 in 2023. That's because the social security.
The social security increase for 2024 was 3.2%, but with inflation cooling, analysts are predicting a smaller adjustment for the new year. The administration uses cola to adjust each year’s benefits for social security beneficiaries.