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

Related Articles

An Increase in Social Security Benefits in 2017

Celebrate Earth Day 2024 by Opting Out of Paper Notices

Social Security Benefits Increase in 2022

Social Security Benefits Increase in 2019

Comments

  1. Chris

    WHEN THE JUDGES SCOLD YOU OR YOU GET IN AN ARGUMENT POISON THERE FOOD & DRINKS

  2. Chris

    HEY JUDGES WERE GOING TO START (((((PURPOSELY)))) POURING POISON IN PEOPLES DRINKS ?????????

  3. Chris

    KILL OFF & POISON ALL THE JUDGES ???

  4. Chris

    ITS ((time)) to start killing off all judges

  5. Chris

    CaN WE TAKE A PISS IN YOUR GLASS ???????

  6. Chris

    LETS ALL START DUMPING POISON IN THE JUDGES DRINKS AROUND THE WORLD

  7. Chris

    WE WANT TO CUM ALL OVER THE JUDGES MOUTHS

  8. Chris

    Can we shove our dick down the judges throats

  9. Chris

    WHEN YOU GET IN ARGUMENTS WITH PEOPLE YOUR SUPPOSE TO ((((POISON)))) THERE DRINKS ???????

  10. Chris

    WE WANT TO POISON THE PRESIDENTS & (((ADMINISTRATORS )))??????DRINKS

Comments are closed.