Social Security Contribution Limit 2024. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.

This amount is known as the. Earnings limit for workers who are younger than full retirement age (benefits reduced $1 for each $2 over the earnings limit) $21,240.