Things You Should Know About Your Social Security Statement

5. You Can Make Sure Your Employer Got Your Social Security Contributions Right.

You're required to pay 6.2 percent of your earnings into Social Security every year, with a cap of $128,700. This amount is taken out of your paycheck as a payroll deduction, and your employer matches this contribution. If you're self-employed, you have to pay both halves of that, totalling a 12.4 percent contribution. Check your statement to make sure you're getting all the credit you deserve for those contributions.

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