Erin is a fourth-year mechanical engineering major who has served in a wide variety of leadership roles, including president of the Society of Women Engineers at UF. She also initiated the first-ever 3D printing outreach day and co-authored a paper published by the American Society for Engineering Education.
The Social Security Administration has announced the 2017 Social Security benefit amounts, and the maximum withholding change for 2017. The maximum taxable earnings for Social Security withholding for 2017 are $127,200. This maximum is up from $118,500 for 2016 and 2015. Medicare withholding has no maximum. The maximum withholding amount is adjusted each year by a formula based on cost of living increases.
If you're coming up on retirement, one of your big questions is how much money you'll get from Social Security. The Social Security Administration knows that's at the top of many minds, and as a result, it reports that the average monthly Social Security payment to retired workers will be $1,360 in 2017.