COLA

An Increase in Social Security Benefits in 2017

October 18, 2016 • By

cola2017The annual cost-of-living adjustment (COLA) usually means an increase in the benefit amount people receive each month. By law, the monthly Social Security and Supplemental Security Income (SSI) federal benefit rate increases when there is a rise in the cost of living. The government measures changes in the cost of living through the Department of Labor’s Consumer Price Index (CPI-W).

The CPI-W rose this year. When inflation increases, your cost of living also goes up. Prices for goods and services, on average, are a little more expensive.  Since the CPI-W did rise, the law increases benefits to help offset inflation. As a result, monthly Social Security and SSI benefits for over 65 million Americans will increase 0.3 percent in 2017.

Other changes that would normally take effect based on changes in the national average wage index will begin in January 2017. For example, the maximum amount of earnings subject to the Social Security payroll tax will increase to $127,200.

Information about Medicare changes for 2017, when announced, will be available at www.Medicare.gov.  For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums.

You can find more information about the 2017 COLA at www.socialsecurity.gov/cola.  For changes in the national average wage index, go to www.socialsecurity.gov/OACT/COLA/AWI.html.


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Doug Walker, Deputy Commissioner, Communications

Deputy Commissioner, Office of Communications

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  1. Semi Benson

    Sending this reply and concern.. We need annual raises in our SSI/ DISABILITY benefits as cost of living rises every year. I cannot afford a decent place to live, not while receiving $900.00 a month. It’s just not enough. Can’t find an apartment for under that amount. I live in a room right now that is not fit for any human being. I want a better place to stay, a clean environment. I have to stay here because it’s what I can afford on this little income that I currently receive.
    Please I need EXTRA benefits.
    SB.. Mentone, Ca

    Reply
  2. Rick

    We want to see more people flooring there vehicles and jumping curbs and running over crowds of people from city to city thin out the population??‍✈️

    Reply
  3. Rick

    Kill off all the school kids

    Reply
  4. Rick

    TAKE A BIG OLE PISS ALL OVER CHRIS R FACE

    Reply
  5. Rick

    THE (SPY ANGENCY) ✈️✈️✈️????????✈️✈️✈️✈️??????????

    Reply
  6. Frank a Donvito

    My new benefit amount shows a deduction for $28.10 for the prescription drug plan. I have switched to a medicare advantage plan for 2019. Why are you deducting that amount?

    Reply
  7. Susan Triner

    I’m a teacher stop working in may get paid through August how will this affect my social security

    Reply
    • Ann Clifton, Public Affairs Specialist

      Hi, Susan. Thanks for your question. If you retire mid-year, we count your earnings for the entire year. We have a Special Earnings Limit Rule that we apply to annual earnings—usually the first year of retirement. When you apply for retirement, let us know if you plan to continue working. For more information, check out our publication, How Work Affects Your Benefits. We hope this helps!

      Reply
  8. R. E. MacLeay

    Time for an updated version for 2019!

    Reply
  9. navidi motaly

    healthy corn salad and red beans Recipe Here’s a healthy recipe for homemade lemonade. 

    Reply
  10. Haylinda Manlangit

    Hi!
    I am 72 years old retired since 2013 and still working now.why ? I am still deducting My
    Social security and my medicare. And my
    Social security Salary Adjustment In 2019
    Is only 34.00.how did you compute that? If I
    Will stop working now my pension is not
    Enough for living .reply please?

    Reply
    • Vonda VanTil, Public Affairs Specialist

      Hi Haylinda, thank you for the question. A Social Security retirement benefit is calculated by using your highest 35 years of earnings. If you do not have 35 years of earnings, we will use all of the earnings on your record and factor in an annual total of $0.00 earnings for each of the remaining years.

      Each year we review the records for all Social Security recipients who work. If your latest year of earnings turns out to be one of your highest 35 years, we refigure your benefit and pay you any increase due. This is an automatic process, and benefits are paid in December of the following year. For example, in December 2020, you should get an increase for your 2019 earnings if those earnings raised your benefit. The increase would be retroactive to January 2020.

      Reply

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