Tag: COLA

[2017 COLA update] Its been a few years with relatively minor COLA (cost-of-living-adjustment) increases but even with the marginal 2017 COLA increase of 0.3%, over 12 million Americans will pay higher taxes in 2017 as the maximum taxable earnings (wage base) subject to social security also increased from $106,800 to $110,100. You can see the previous…

Supplemental Security Income (SSI) is a program administered by Social Security that provides monthly payments to significantly disabled adults, children and seniors over 65 with low income and limited resources. To be eligible for SSI, a person must be 65 or older, blind, or have a medical condition that prevents…

See this article for the latest COLA increase - https://savingtoinvest.com/social-security-tax-and-cost-of-living-adjustment-cola The Social Security Administration (SSA) confirmed that the 2013 COLA increase will be 1.7%. This means that nearly 62 million Americans will see their benefit payments increase in January 2013, with the average retiree receiving a $21 increase.  As detailed in the…

COLA Increase [2021 update] 1.3% COLA increase in 2021 officially confirmed by the SSA. For the average retiree who got a check of $1,523 this year, that would mean an additional $20 a month. The 1.3% COLA is the smallest increase since 2017 and slightly below the 1.4% average over…