COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

Reading Time: 1 Minute

Last Updated: October 13, 2017

man and woman outside smiling 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?

Yes
No
Thanks for your feedback!

Tags: ,

See Comments

About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

Comments

  1. Ken K.

    WHILE EVERYONES OFF STICKING EACH OTHER WHERE DID YOUR ?✈️?✈️??✈️??✈️✈️✈️ GO?

  2. Sabino

    IS IT POSSIBLE TO STICK 20 NIGGERS ALL ON ONE ?

  3. Lisa

    HEY JUDGES WE JUST STUCK 7 ——NIGGERS—— WITH 1 ?

  4. Lisa

    HEY JUDGES WE JUST STUCK 7 ——NIGGERS—— WITH 1 ?

  5. James

    WE WONT STOP POSTING BLOGS UNTIL OUR APPROVAL LETTER)))))) SOOOOO ??

  6. Jenny

    DOESNT THAT SOUND LIKE FUN PURPOSELY ?????PEOPLE

  7. Kelly B.

    STICK ))))) ???? PEOPLE MAKE IT LOOK LIKE ACCIDENTS HAPPENED ???

  8. Samantha

    ACCIDENTALLY (((STICK))) THE PERSON SITTING NEXT TO YOU ???????

  9. Mellisa

    HOPE YOU CATCH H. I V AND DIE A LONG DEATH ASSHOLES

  10. Dinease

    CAN WE STICK YOU JUST ONCE JUDGE ???????

Comments are closed.