SSA Announces 2006 Taxable Wage Base Increase

The Social Security Administration announced Friday, October 14, 2005, the taxable wage base (TWB) for 2006. The 2006 figure is $94,200 (increased from $90,000 for 2005).The TWB is used in some integrated (permitted disparity) retirement plan contribution formulas, and in compensation calculation for the self-employed.

 

The Social Security Administration announcements can be found at http://www.ssa.gov/pressoffice/pr/2006cola-pr.htm.