Aime 2024 Social Security Tax

Aime 2024 Social Security Tax. An individual who earns under $168,600 in 2024 pays a 6.2% social security tax rate on their entire income. To fund social security, employers and employees each pay a payroll tax of 6.2% (for a combined 12.4%) of an employee’s annual earnings up to a certain level, known as the taxable.

Typically the pia is a function of average indexed monthly earnings (aime). Only income up to the maximum.