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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Brian B.
You have 1 week to make your decision or will fill there drink with u know what & she’s been a real (bitch) lately
Brian B.
(Hint; hint; we told u so)
Brian B.
When you get scold at your job fill there drinks full of poison & tell them to fuck off and walk off the job let your judges know ————/—
(Brian B.
. On our next denial we’re going to start filling people’s drinks and food with poison & oh we will put our dick right in there drinks only on the judges denial
ADAM C.
BLOW THE JUDGES HEAD OFF
ADAM C.
BLOW THE JUDGES HEAD OFF
Paul G.
Can I slide my dick in your judges mouth
Paul (.
.Any one else telling these people to fuck off.
??????
Carol S.
How much will a worker who turns 65 in February 2019 be able to earn without large tax consequences? I know that in 2018 the limit is $17,040. Thanks
V.V.
Hi Carol. Thank you for your question. If under full retirement age in all of 2019, the limit is $17,640. We withhold $1 from benefit payments for every $2 earned above the annual limit.
Visit our Retirement Planner: Getting Benefits While Working and our Retirement Earnings Test Calculator. Hope this helps!
Barbara H.
I am trying to find out when I will get my Social Security deposited into my bank account and if we are getting a cost of living increase in 2019.
A.C.
Hi, Barbara. For your security, we do not have access to private information in this venue. We ask that members in our Blog community to work with their local office on specific questions about their case. You may find the schedule of Social Security benefit payments calendar useful. The 2.8 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 62 million Social Security beneficiaries in January 2019. We hope this helps.