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 | Wednesday, January 1 |
Memorial Day | Monday, May 26 |
Juneteenth | Thursday, June 19 |
Independence Day | Friday, July 4 |
Labor Day | Monday, September 1 |
Thanksgiving Day | Thursday, November 27 |
Day After Thanksgiving | Friday, November 28 |
Christmas Holiday | Thursday, December 25 |
Holiday | Dates |
---|---|
New Year's Day | Monday, January 1 |
Memorial Day | Monday, May 27 |
Juneteenth | Wednesday, June 19 |
Independence Day | Thursday, July 4 |
Labor Day | Monday, September 2 |
Thanksgiving Day | Thursday, November 28 |
Day After Thanksgiving | Friday, November 29 |
Christmas Holiday | Wednesday, December 25 |
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.