Description | 2025 | 2024 | 2023 |
---|---|---|---|
Social Security | |||
Taxable Wages | $176,100 | $168,600 | $160,200 |
Maximum Tax | $10,918.20 | $10,453.20 | $9,932.40 |
Retirement Plans | |||
Compensation Limit | $350,000 | $345,000 | $330,000 |
Deferral Limit | $23,500 | $23,000 | $22,500 |
Catch-Up | $7,500 | $7,500 | $7,500 |
Holiday | Dates |
---|---|
New Year's Day | Monday, January 2 |
Memorial Day | Monday, May 29 |
Independence Day | Tuesday, July 4 |
Labor Day | Monday, September 4 |
Thanksgiving Day | Thursday, November 23 |
Day After Thanksgiving | Friday, November 24 |
Christmas Holiday | Monday, December 25 |
Holiday | Dates |
---|---|
New Year's Day | Friday, December 31 (2021) |
Memorial Day | Monday, May 30 |
Juneteenth | Monday, June 20 |
Independence Day | Monday, July 4 |
Labor Day | Monday, September 5 |
Thanksgiving Day | Thursday, November 24 |
Day After Thanksgiving | Friday, November 25 |
Christmas Holiday | Monday, December 26 |
Minimum wage rates very across the country, many states, counties, and cities have specifi rules regarding the minimum wage in their jurisdiction - below are some resources to help determine the rate in your the Department of Labor’s website at www.dol.gov/agencies/whd/state/minimum-wage/tipped.
On July 1, 2021, the Chicago City Council raised the minimum wage $1 from $14.00 per hour to $15.00 per hour for large employers with 21 or more employees and to $14/hour for small employers (4-20 employees). More information can be found at: Chicago Labor Standards.