Payroll taxes (FICA)
| Item | 2026 figure |
|---|---|
| Social Security tax rate (employee) | 6.2% |
| Medicare tax rate (employee) | 1.45% |
| Maximum taxable earnings (wage base) | $184,500 |
| Additional Medicare tax (high earners) | 0.9% over $200k single / $250k married |
Full retirement age by birth year
| Birth year | Full retirement age |
|---|---|
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 and later | 67 |
How claiming age changes your benefit
| Claiming age (FRA 67) | Benefit vs. full |
|---|---|
| 62 (earliest) | 70% |
| 67 (full retirement) | 100% |
| 70 (maximum) | 124% |
Claiming before full retirement age permanently reduces your monthly check; delaying past it earns about 8% more per year up to age 70. Benefits are adjusted for inflation each year by the cost-of-living adjustment (COLA).
More references: 2026 Federal Income Tax Brackets · 2026 Retirement Contribution Limits · 2026 Capital Gains Tax Rates
Figures reflect 2026 and are provided for general information, not tax or financial advice. Some inflation-adjusted amounts are finalized late in the year — verify against the IRS or SSA before filing.