Core Insights - Approximately 75 million Americans will see a 2.8% increase in their income in 2026 due to the cost-of-living adjustment for Social Security benefits and Supplemental Security Income (SSI) payments [1] - The Social Security Administration will adjust the taxable maximum for wages, impacting high earners and potentially increasing the amount deducted from paychecks for Social Security taxes [3] Taxable Income Adjustments - In 2026, the taxable maximum for Social Security taxes will rise to $184,500, up from $176,100 in 2025 [4] - Employees and employers will continue to contribute 6.2% of earnings up to this limit [3] Earnings Limits for Benefits - Individuals can earn up to $24,480 in 2026 without having Social Security benefits withheld, an increase from $23,400 in 2025; earnings beyond this limit will result in a deduction of $1 in benefits for every $2 earned [6] - Those reaching full retirement age in 2026 can earn up to $65,160 before benefits are withheld, up from $62,160 in 2025; earnings beyond this threshold will lead to a deduction of $1 in benefits for every $3 earned [7] Work Credits for Benefits - To qualify for Social Security benefits, individuals must accumulate a minimum of 40 work credits, equivalent to roughly 10 years of work; monthly benefits are based on the highest 35 years of earnings [9]