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Railroad Retirement 2021 Tax Rates:

2021 TIER I EARNINGS BASE AND TAX RATES

Annual Maximum - $142,800.00

Employee and Employer Tax Rate - 6.2%

Maximum Payable by an Employee & Employer - $8,853.60

 

2021 TIER II EARNINGS BASE AND TAX RATES

Annual Maximum - $106,200.00

Employee Tax Rate - 4.9%

Maximum Payable by an Employee - $5,203.80

Employer Tax Rate - 13.1%

Maximum Payable by an Employer - $13,912.20

 

2021 MEDICARE HOSPITAL INSURANCE

EARNINGS BASE AND TAX RATES

Annual Maximum - No Limit

Employee and Employer Tax Rate - 1.45%

 

TOTAL TIER I, TIER II & MEDICARE

HOSPITAL INSURANCE MAXIMUM TAX

Based on earnings of $142,800.00

Maximum Payable by an Employee - $16,128.00

Maximum Payable by an Employer - $24,836.40

(Additional Taxes are 0.9% of Earnings Above

$200,000.00 - Filing Individually)

 

SSA QUARTER OF COVERAGE EARNINGS NEEDED

In 2021 - $1,470.00 (Earn up to 4 Quarters per Year)

 

2021 EMPLOYER RUIA TAX RATE

3.15 TO 12.0% on First $1,710.00 per month

 

EMPLOYEE RUIA 2020 QUALIFYING EARNINGS

For Benefit Year 2021 (Beginning July 1, 2021) - $4,137.50

 

RUIA DAILY BENEFIT RATE

For Benefit Year 2021 (Beginning July 1, 2021) - $82.00

 

BASIC MEDICARE PREMIUM

Part B beginning in 2021 - $148.50

 

COST-OF-LIVING - DECEMBER 2020

Tier I - 1.3%; Tier II - 0.4%

 

WORK DEDUCTIONS EXEMPT AMOUNTS*

 

Retirement and Survivor Work Deduction Limitations

Annuitants Attaining Full Retirement Age (FRA)

(For Months Prior to FRA in the Calendar Year)

Monthly - $4,210.00; Annually - $50,520.00

($1.00 Deduction for Each $3.00 of Excess Earnings)

 

Under FRA

(If Under FRA for the Entire Calendar Year)

Monthly - $1,580.00; Annually - $18,960.00

($1.00 Deduction for Each $2.00 of Excess Earnings)

 

Disability Earnings Limitations Amounts

Monthly - $1,020.00; Annually - $12,750.00

 

*All Earnings Must be Reported by Calling 1-877-772-5772.

Failure to Report Earnings Could Lead to Penalties.