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.
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Tags: Cost of living adjustment, Social Security benefits
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Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
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Billy b.
CAN WE FUCK YOU IN YOUR BUTTHOLE NOW OR YOU WANT TO WAIT
Billy b.
WHERE DID YOU GO WHEN WILL YOU BE BACK WITH YOUR SURVELANCE YOUVE BEEN AROUND OH SO MANY YEARS DEPRESSED TO SEE YOU GO ?✈️??????✈️✈️✈️✈️?????? ???????????????????????????????????
Billy b.
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antonio n.
nuzzo antonio social security benefit statement anno 2018
nb *** – ** – ***
we ask for pension amount disbursed for 2018
thank you
A.C.
Hi, Antonio. For your security, we do not have access to private information in this venue. If you are referring to the SSA-1099 showing the amount of benefits paid to SSA beneficiaries during last year, you can request a replacement SSA-1099/1042S for Tax Year 2018. You can request a replacement SSA-1099/1042S for Tax Year 2018 by visiting your personal my Social Security account. You can also contact or visit your local Social Security office. They can assist with a replacement 1099. Thanks!
Joyce W.
Does my SOS Security pay into any of my life insurance?
beverly b.
trying to reset password followed instructions on my gmail. nothing thank you
A.C.
Hi, Beverly. If you are still unable to access an account or encounter a problem with your personal my Social Security account, you may:
•Call us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7:00 a.m. to 7:00 p.m. At the voice prompt, say “helpdesk”; or
•Contact your local Social Security office. Thanks.
Michael K.
Are FICA deductions required from hourly paycheck even after I get Soc Sec benefits after age 66?
Gerald F.
are there other people on my account?
V.V.
Hi Gerald, thank you for your question. If you are a representative payee for someone receiving benefits, you may see their name in your my Social Security account which allows you to report their wages and complete annual payee accounting forms. For your security, we do not have access to your information in this venue. To inquire about others on your account, you will need to contact your local Social Security office or call our toll free number at 1-800-772-1213. Representatives are available to help you Monday through Friday between 7 a.m. and 7 p.m.
Sherry J.
Hi my name is Sherry JoAnn Harms and I need a cope of my 2018 Benefit Verification Letter as I am applying for a home Loan and I can not find the one that was sent to me at the end of 2017. I am hoping I can receive a duplicate copy . Thank You
V.V.
Hi Sherry, thank you for your question. You can get a benefit verification letter online instantly by using your personal my Social Security account. This letter is sometimes called a budget letter, a benefits letter, a proof of income letter or a proof of award letter. To set up your account, visit the my Social Security web page and select, “Sign In or Create an Account.” You will need to provide some personal information to verify your identity, choose a username and password and follow the rest of the steps to finish creating your account. Once you create your account, scroll down to the Benefits and Payments section and choose “get benefit verification letter” where you can instantly view, print, or save your official letter. If you are unable to create an account or encounter a problem, you may call us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7 a.m. to 7 p.m. At the voice prompt, say “helpdesk” or you can contact your local Social Security office.
JESSIE H.
I HOPE TO GET MY SOCIAL SECURITY STATEMENT SOON. SEND TO MY P.O. BOX PLEASE 842, MASCOTTE. FL 34753 JESSIE HARRIS CONRAD.