The Old-Age, Survivors, and Disability Insurance taxable wage base is projected to increase 5.5% to $155,100 for 2023, according to a 2022 OASDI annual report released by the Social Security Board of Trustees on June 2.
The board based their wage base projection on assumptions set in February, the report states. Recent economic developments and the Covid-19 pandemic may require the board to adjust their projection later this year.
The projected wage base was calculated using intermediate, high-cost, and low-cost models. All three models project the same wage base for 2023.
The wage base, which the Social Security Administration indexes ...
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