Social Security Benefits to Increase in 2018
Reading Time: 1 MinuteLast Updated: October 13, 2017
When we announce the annual cost-of-living adjustment (COLA), there’s usually an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month. Federal benefit rates increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W).
The CPI-W rises when prices increase, making your cost of living go up. This means prices for goods and services, on average, are a little more expensive. The COLA helps to offset these costs. As a result, more than 66 million Americans will see a 2.0 percent increase in their Social Security and SSI benefits in 2018.
Other changes that will happen in January 2018 are based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax will increase to $128,700. The earnings limit for workers younger than “full” retirement age will increase to $17,040 and the limit for people turning “full” retirement age in 2018 will increase to $45,360.
You can find more information about the 2018 COLA here.
Did you find this Information helpful?
Tags: Cost of living adjustment, Social Security benefits
See CommentsAbout the Author
Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
Comments
Comments are closed.
FLOYD M.
IN OUR CITY OR STATE WHEN WE GET SCOLDED ON OUR JOB WE JUST SHOOT THE BOSS MANAGER IN THERE HEAD & WALK OFF THE JOB
Scott
THAT 1st JUDGE WAS A REAL ASSHOLE I HOPE SOME STICKS THERE DICK IN YOUR ASS YOU FUCKING ASSHOLE
Kyle
We’re going to keep telling your judges to fuck off day after day until we’re approved on your blog
Tina
This is for all the times you’ve been spying on us ✈️✈️✈️✈️✈️✈️????????????won’t stop until we’re approved
Tina
We will keep posting blogs until we are approved day after day ??✈️
Donny
??HOW COME NIGGERS ONLY KILL NIGGERS IN CHICAGO ITS ABOUT TIME YOU SPREAD YOUR WINGS AND START WORLDWIDE EXECUTION STYLE??
Thatcher D.
KILL THOSE PALMER NIGGERS OFF ONE BY ONE FUCKING ASSHOLES AGENTPALMER
Thatcher D.
THE PALMER RESIDENTS ARE ASSHOLES WE HOPE SOMEONE KILLS THERE WHOLE FAMILY OFF THOSE ASSHOLES
ANGENT P.
DID WE MENTION WERE NOT GOING TO STOP OUR BLOGS UNTIL APPROVAL ✈️?✈️?✈️??????✈️✈️✈️?????????
Jerry F.
?NO AIRPLANES TODAY WHERE DID THE SPIES GO ?