Informational Circular No.: 18-P-012
Supersedes Informational Circular No: 18-P-007
Effective Date: January 1, 2018
Contact Name: Carmen Waters
Ph: (785) 296-7059
Approval: Nancy Ruoff (Original Signature on File)
Summary: Social Security Wage Base Lowered by the SSA to $128,400 from previously announced wage base effective January 1, 2018
The Social Security wage base for OASDI was lowered to $128,400 for calendar year 2018, from $128,700 that the Social Security Administration had previously announced in October 2017. This is a $1,200 increase from the wage base of calendar year 2017 of $127,200. The OASDI tax rate for 2018 will remain at 6.2% for both employees and employers. The maximum OASDI employee contribution for 2018 will be $7,960.80, lowered from the original employee portion of $7,979.40.
The Office of the Chief Financial Officer, Payroll Systems Team is responsible for making the necessary updates to the SHARP payroll system. Regents’ institutions are responsible for ensuring these changes are reflected in their individual systems.
Printable version of 18-P-012