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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Kenny
Lets ruin the judges lives and mix there drinks with poison ????
Sara
Kill those people off
Tim
SLIP POISON IN THE JUDGES DRINKS ? ?
Greg m.
toilet bowl cleaner ???
Scott
???????????.??????.????.??????????.??.?????????????????????????.?????????.????????????.???.?????
Frank P.
S T I C K A L L THE RETIREES WITH HIV AND GO SEPERATE WAYS ????.HAY JUDGES
Kerry
Fucking asshole judges
Samantha
Going around city to city sticking all the judges ????????????????????——————-?H I V )(
Jason K.
Instead of shooting them Chicago style they can poison there drinks kill off part of the NIGGER population
Kristy
That NIGGER just dumped something in there drinks and took off ????