2020 SOCIAL SECURITY WAGE BASE

Donnica Carte

January 7, 2020

The Old-Age, Survivors, and Disability Insurance taxable wage base is to increase to $137,700 in 2020, up from $132,900 for 2019 with a maximum tax amount of $8,537.40. After program updates are completed, go to the FICA and FICA-M Deduction Descriptions, Compute tab, and click on the Copy Standard Setup button, then click Select to load the new wage base.

Product Announcements

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Release notes for release 4.1.10-47248: Added new HSA deduction type, “DIRECTD HSA” Change to the VRS DC hybrid file to eliminate the pay ID from...

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