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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Dennis
LETS START PURPOSELY FUCKING PEOPLES RETIREMENTS ON THEM
Samantha
LETS SCREW THIS GUY OUT OF HIS RETIREMENT BUT STICK U WITH H I V FOR RETURN
Jim
ACCIDENTS DO HAPPEN ?
Frank D.
I’m an collecting SSD benefits. Will the 2020 SS increase include my disability payments?
Brenda
?????We want to stick the judge that denied us with something he don’t want to get stuck with???????
Kyle w.
?BEST WAY TO FUCK SOMEONE ?
Jenny
Start your air survelance again so we can keep purposely sticking your judges with infected H. I. V ✈️✈️✈️???????????????????✈️✈️✈️✈️✈️
Bill
That’s the same judge that denied us go stick him ?????????????
Mike
Going around sticking judges on there denials ????????
Cristy
When judges —deny —you try to stick them and there associates with H I. V ??????