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Wage Limits and Caps

Description 2022 2021 2020
Social Security
Taxable Wages $147,000 $142,800 $137,700
Maximum Tax $9,114.80 $8,853.60 $8,537.40
Retirement Plans
Compensation Limit $305,000 $290,000 $285,000
Deferral Limit $20,500 $19,500 $19,500
Catch-Up $6,500 $6,500 $6,500

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HowardSimon 2021 Holiday Schedule

Holiday Dates
New Year's Day Friday, January 1
Memorial Day Monday, May 31
Independence Day Monday, July 5
Labor Day Monday, September 6
Thanksgiving Day Thursday, November 25
Day After Thanksgiving Friday, November 26
Christmas Holiday Friday, December 24
New Year's Day Friday, December 31
HowardSimon 2022 Holiday Schedule

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

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  • Minimum Wage Resources


    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.

    Increase in Minimum Wage Rate in Chicago

    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.