Oasdi Max For 2024. For 2024, the social security tax rate is 6.2% on the first $168,600 wages paid. The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each.
Under the trustees’ intermediate assumptions, oasdi cost exceeds total income in 2024 and in every year thereafter through 2098, and the level of the hypothetical combined trust fund reserves declines until reserves become depleted in 2035, one year later than projected in last year’s report. Of course, both employers and employees pay the 6.2% social security tax rate, which means there could be a max payment next year of: