Social Security has been a critical part of Americans' retirement income for decades. In many cases, Social Security has kept people financially afloat during that time, while in other cases, it has served as a much-appreciated supplemental income after years of paying into the Social Security system.
In either case, I'm sure we can all agree that the larger your benefit in retirement, the better -- regardless of how you plan to use the money. The good news is that retirees can expect a 2.8% boost to benefits beginning in 2026, thanks to the annual cost-of-living adjustment (COLA).
This boost also means the maximum benefit has increased to $5,251 beginning in 2026. If this is something you have in your sights, let's see what it takes to get there.
Image source: Getty Images.
The first step to receiving the maximum benefit
Getting to the maximum Social Security benefit is a two-step process, with the first involving your career earnings. Most American workers pay Social Security payroll taxes, with the employee and employer each paying 6.2% (self-employed and independent contractors are responsible for the full 12.4%).
Only income up to a certain amount, called the wage base limit, is subject to the Social Security payroll tax, however. In 2026, the wage limit is $184,500, up from $176,100 in 2025. This means that if you earn $190,000 in 2026, $5,500 will be exempt from Social Security payroll taxes.
To qualify for the maximum benefit, you need to earn at least the wage base limit in the 35 years that Social Security uses to calculate your benefit. This is because, at that point, you would've paid the maximum amount of Social Security payroll taxes possible throughout your career.
So, if 2026 will be one of the 35 years that Social Security uses to calculate your benefit, your earnings for the year would need to be at least $184,500.
The wage base limit will change in most years
Like the annual COLA, the wage base limit tends to change every year (exceptions were 2009, 2010, and 2011). Whereas the COLA is based on changes in inflation data (using the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W), wage base limits are based on changes in the national average wage index (NAWI). The NAWI measures changes in wage growth by looking at the average earnings of U.S. workers.
Here are the past 10 wage base limits:
| Year | Wage Base Limit |
|---|---|
| 2025 | $176,100 |
| 2024 | $168,600 |
| 2023 | $160,200 |
| 2022 | $147,000 |
| 2021 | $142,800 |
| 2020 | $137,700 |
| 2019 | $132,900 |
| 2018 | $128,400 |
| 2017 | $127,200 |
| 2016 | $118,500 |
Source: Social Security Administration.
If any of these 10 years will be used as part of your benefits calculations (which is the case for many people), you would have needed to earn at least these amounts in those given years. That's why meeting the earnings threshold for the maximum benefit is hard for many workers. Even if your earnings exceed it in multiple years, an increase in the wage base limit could mean you no longer earn above it.
According to the Social Security Administration, only around 6% of workers earn above the wage base limit in a given year, and only around 20% of workers will ever earn above the limit at least one year in their career.
The second step to receiving the maximum benefit
The second, much easier part of receiving the maximum benefit has to do with when you claim benefits. By delaying benefits past your full retirement age, you increase your monthly payout by 2/3 of 1% monthly (8% annually) until you reach age 70. Once you turn 70, benefits are no longer increased by delaying them.
To qualify for the maximum benefit, you must meet the earnings requirements and delay claiming benefits until you turn 70. Doing one without the other won't cut it.
