Social Security Bonus 2022 : If any one retires at full retirement age, the maximum possible Social Security benefit will be $3,345 in 2022, up $197 from 2021.
Supplemental Security Income (SSI) beneficiaries will receive a 5.9 percent COLA for 2022. Other important 2022 Social Security information is as follows in below table.
If you’re under full retirement age, the Social Security earnings limit 2022 is $19,560. If you will reach full retirement age in 2022, the limit on your earnings for the months before full retirement age is $51,960.
2022 SOCIAL SECURITY CHANGES
Cost-of-Living Adjustment (COLA): Social Security Bonus 2022
Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2020 through the third quarter of 2021, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 5.9 percent COLA for 2022. Other important 2022 Social Security information is as follows:
| Tax Rate | 2021 | 2022 |
| Employee | 7.65% | 7.65% |
| Self-Employed | 15.30% | 15.30% |
NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings. Also, as of January 2013, individuals with earned income of more than
$200,000 ($250,000 for married couples filing jointly) pay an additional 0.9 percent in Medicare taxes. The tax rates shown above do not include the 0.9 percent.
| 2021 | 2022 | |
| Maximum Taxable Earnings | ||
| Social Security (OASDI only) | $142,800 | $147,000 |
| Medicare (HI only) | No Limit | |
| Quarter of Coverage | $1,470 | $1,510 |
| Retirement Earnings Test Exempt Amounts | ||
| Under full retirement age | $18,960/yr. ($1,580/mo.) | $19,560/yr. ($1,630/mo.) |
| NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit. | ||
| The year an individual reaches full | $50,520/yr. | $51,960/yr. |
| Retirement age | ($4,210/mo.) | ($4,330/mo.) |
| NOTE: Applies only to earnings for months prior to attaining full retirement age. One dollar in benefits will be withheld for every $3 in earnings above the limit. | ||
| Beginning the month an individual attains full retirement age | None | None |
| Social Security Disability Thresholds | 2021 | 2022 |
| Substantial Gainful Activity (SGA) | ||
| Non-Blind | $1,310/mo. | $1,350/mo. |
| Blind | $2,190/mo. | $2,260/mo. |
| Trial Work Period (TWP) | $ 940/mo. | $ 970/mo. |
| Maximum Social Security Benefit: Worker Retiring at Full Retirement Age | $3,148/mo. | $3,345/mo. |
| SSI Federal Payment Standard | ||
| Individual | $ 794/mo. | $ 841/mo. |
| Couple | $1,191/mo. | $1,261/mo. |
| SSI Resource Limits | ||
| Individual | $2,000 | $2,000 |
| Couple | $3,000 | $3,000 |
| SSI Student Exclusion | ||
| Monthly limit | $1,930 | $2,040 |
| Annual limit | $7,770 | $8,230 |
| Estimated Average Monthly Social Security Benefits Payable in January 2022 | Before 5.9% COLA | After 5.9% COLA |
| All Retired Workers | $1,565 | $1,657 |
| Aged Couple, Both Receiving Benefits | $2,599 | $2,753 |
| Widowed Mother and Two Children | $3,009 | $3,187 |
| Aged Widow(er) Alone | $1,467 | $1,553 |
| Disabled Worker, Spouse and One or More Children | $2,250 | $2,383 |
| All Disabled Workers | $1,282 | $1,358 |
