Here are the latest rates and contributions limits for FICA, minimum wage, 401K and IRA Retirement, and Health Savings Accounts (HSA).
Payroll
- Employee FICA (Social Security) – 6.2%
- Employer FICA (Social Security) – 6.2%
- Employee FICA (Medicare) – 1.45%
- Employer FICA (Medicare) – 1.45%
- Social Security Wage Base – $160,200
- Standard Business Mileage – TBD
- PA State Tax Rate 3.07%
- Minimum Wage – $7.25 (Federal)
- Minimum Wage – $7.25 | 15.00 for state employees (PA)
- Minimum Wage – $11.75 (DE)
- Minimum Wage – $14.13 (NJ)
Retirement
- 401K/403B Contribution – $22,500
- Catch-up – $7,500
- Simple IRA – $15,500
- Catch Up – $3,500
- IRA & Roth IRA – $6,500
- Catch Up – $1,000
Health Benefits
- HSA Contributions Employee Only – $3,850
- HSA Contributions Family Coverage – $7,750
- HSA Catch Up Amount – $1,000