Social Security Wage Base definition

Social Security Wage Base for a Plan Year means the maximum amount of annual earnings which may be considered wages under Code Section 3121(a)(1) as in effect on the first day of such Plan Year.
Social Security Wage Base means, with respect to each Plan Year, the maximum amount of wages which are subject to tax in such year under the Federal Old Age, Survivors and Disability Insurance System.
Social Security Wage Base means, with respect to any Plan Year, the maximum amount of earnings which may be considered wages under Section 3121(a) of the Code for the calendar year in which falls the beginning of such Plan Year as in effect on the first day of such Plan Year.

Examples of Social Security Wage Base in a sentence

  • Copies of CBFMP guidelines and site map shall be posted in the municipality and barangays where the site is located.

  • The Integration Level will be (check one): ____ The Social Security Wage Base in effect at the beginning of the Plan Year.

  • If your pay after your payroll reductions is less than the Social Security Wage Base your future Social Security benefits may be slightly reduced because you will be paying less in FICA taxes.

  • If your pay is more than the Social Security Wage Base, your Social Security benefit will not be reduced at all.Changing Your ElectionsThe benefits you elect during the enrollment period will remain in effect through June 30, 2021.

  • The Contributions for the Medical Leave component of the plan will be 40% of 0.62% of the Covered Individual’s gross Wages capped at the Social Security Wage Base.


More Definitions of Social Security Wage Base

Social Security Wage Base means the applicable dollar amount, for the Plan Year, of the contribution and benefit base as determined under section 230 of the Social Security Act.
Social Security Wage Base means the contribution and benefit base taken into account under Section 230 of the Social Security Act.
Social Security Wage Base means for any calendar year the maximum amount of annual earnings subject to tax under the provisions of the Federal Insurance Contributions Act as in effect on the first day of that calendar year.
Social Security Wage Base means contributions and benefits base under Section 230 of the Social Security Act in effect for the Plan Year.
Social Security Wage Base means the amount of a Participant’s Basic Compensation which is subject to the tax imposed for old age, survivors and disability insurance on the University by the Federal Insurance Contributions Act, as amended.
Social Security Wage Base means the Social Security Wage Base in effect as of the beginning of a Plan Year (for example,
Social Security Wage Base means the maximum amount of earnings on which you and the University pay annual Social Security (Old-Age, Survivors and Disability Insurance - OASDI) taxes. The Social Security Wage Base increases on January 1 of each year. Compensation above the Social Security Wage Base is determined on a calendar year basis and the Social Security Wage Base is adjusted, if necessary, as of the first pay date in January.