FICA Wage Base Adjusted Downward to $128,400
On November 27, the Social Security Administration adjusted the 2018 FICA wage base to $128,400, which is $300 less than the agency reported on October 13.
The adjustment is based on updated wage data reported to Social Security. The OASDI rate remains at 6.2%; Medicare threshold and rates also remain the same. In 2017, the FICA wage base was $127,200.
Read the official announcement for additional information.
Employers: Double check your payroll systems before running payrolls in the new year.