Social Security 2020 Wage Base Increase

Skip to content Skip to main navigation
Teachers College, Columbia University
Printer-friendly Version
Teachers College, Columbia University Logo


Office of the Controller

Social Security Wage Base 2020 Increase

The Social Security Administration (SSA) announced that the 2020 social security wage base will be $137,700; an increase of $4,800 from 2019. As in prior years, there is no limit to the wages subject to the Medicare tax; therefore all covered wages are still subject to the 1.45% tax. Wages paid in excess of $200,000 in 2020 will be subject to an extra 0.9% Medicare tax that will only be withheld from employees' wages.

The FICA tax rate will be 6.2% for 2020 up to the social security wage base. The maximum social security tax employees and employers will each pay in 2020 is $8,537.40.