OASDI and SSI Program Rates & Limits, 2005

(released October 2004)

Download fact sheet(0.1 MB)

Social Security (OASDI) Program Rates & Limits 2005
Tax Rates for Employers and Employees, Each a (percent)  
Social Security  
Old-Age and Survivors Insurance 5.30
Disability Insurance 0.90
Subtotal, Social Security 6.20
Medicare (Hospital Insurance) 1.45
Total 7.65
Maximum Taxable Earnings (dollars)  
Social Security 90,000
Medicare (Hospital Insurance) No limit
Earnings Required for Work Credits (dollars)  
One Work Credit (One Quarter of Coverage) 920
Maximum of Four Credits a Year 3,680
Earnings Test Annual Exempt Amount (dollars)  
Under Full Retirement Age for Entire Year 12,000
For Months Before Reaching Full Retirement Age in Given Year 31,800
Beginning with Month Reaching Full Retirement Age No limit
Maximum Monthly Social Security Benefit for Workers Retiring at Full Retirement Age (dollars) 1,939
Full Retirement Age 65 and 6 months
Cost-of-Living Adjustment (percent) 2.7
a. Self-employed persons pay a total of 15.3 percent—10.6 percent for OASI, 1.8 percent for DI, and 2.9 percent for Medicare.
Supplemental Security Income (SSI) Program Rates & Limits 2005
Monthly Federal Payment Standard (dollars)  
Individual 579
Couple 869
Cost-of-Living Adjustment (percent) 2.7
Resource Limits (dollars)  
Individual 2,000
Couple 3,000
Monthly Income Exclusions (dollars)  
Earned Income a 65
Unearned Income 20
Substantial Gainful Activity (SGA) Level for the Nonblind Disabled (dollars) 830
a. The earned income exclusion consists of the first $65 of monthly earnings, plus one-half of remaining earnings.