The Social Security administration has announced the inflation adjusted numbers for 2020 on their website[1] and in a Fact Sheet.[2]

The social security (OASDI) wage base increases to $137,700 for 2020 from $132,900 for 2019.[3]

The amount to be earned to be credited with one quarter of coverage in 2020 will be $1,410, up from $1,360 in 2019.[4]

The maximum earnings for individuals under their retirement age will rise to $18,240 ($1,520 per month) in 2020 from $17,640 ($1,470 per month) in 2019.[5]

In the year the individual reaches their full retirement age, the maximum earnings prior to reaching full retirement age rises to $48,600 per year ($4,050 per month) in 2020 from $46,920 per year ($3,910 per month) in 2019.[6]

The maximum monthly social security retirement benefit for an individual retiring at full retirement age rises to $3,011 per month in 2020 from $2,861 per month for 2019.[7]

[1] “Cost-of-Living Adjustment (COLA) Information for 2020,” Social Security Administration website, https://www.ssa.gov/news/cola/, retrieved October 16, 2019

[2] “2020 Social Security Changes,” Fact Sheet Social Security, Social Security National Press Office, Baltimore, MD, https://www.ssa.gov/news/press/factsheets/colafacts2020.pdf, retrieved October 16, 2019

[3] “2020 Social Security Changes,” Fact Sheet Social Security, Social Security National Press Office, Baltimore, MD, p. 1, https://www.ssa.gov/news/press/factsheets/colafacts2020.pdf, retrieved October 16, 2019

[4] “2020 Social Security Changes,” Fact Sheet Social Security, Social Security National Press Office, Baltimore, MD, p. 1, https://www.ssa.gov/news/press/factsheets/colafacts2020.pdf, retrieved October 16, 2019

[5] “2020 Social Security Changes,” Fact Sheet Social Security, Social Security National Press Office, Baltimore, MD, p. 1, https://www.ssa.gov/news/press/factsheets/colafacts2020.pdf, retrieved October 16, 2019

[6] “2020 Social Security Changes,” Fact Sheet Social Security, Social Security National Press Office, Baltimore, MD, p. 2, https://www.ssa.gov/news/press/factsheets/colafacts2020.pdf, retrieved October 16, 2019

[7] “2020 Social Security Changes,” Fact Sheet Social Security, Social Security National Press Office, Baltimore, MD, p. 2, https://www.ssa.gov/news/press/factsheets/colafacts2020.pdf, retrieved October 16, 2019