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If you collect Social Security and you're younger than full retirement age, then you can earn up to $16,920 in income in 2017 and still collect 100% of your Social Security payment. Nov 26, 2016 at 2:22PM. The average American's retirement savings remains anemic, wages are only inching higher, and employers continue to abandon pension plans.
* Social Security FICA/SECA taxes are restricted to a taxable maximum or wage threshold.. Earnings above the threshold are not subject to these taxes. For 2014, the threshold is $117,000.[21] * Previously, Medicare FICA/SECA taxes were restricted to the same wage threshold as Social Security.