(NEXSTAR) – Social Security recipients are getting a 3.2% increase to their monthly benefits come next year. On Thursday morning, the Social Security Administrationofficially announcedits annual cost-of-living adjustment (COLA) for beneficiaries starting in 2024. The bump, at 3.2%, is among some...
The Social Security Administration (SSA) announced that the maximum earnings subject to Social Security (OASDI) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400). The Social Security Administration (SSA) announced that the maximum earnings subject to Social Security ...
Recipients of Social Security are just weeks away from receiving an increase in their monthly benefits. The Social Security Administration announced in October that millions of Americans will get a 3.2% boost in 2024. The Social Security program pays roughly $1.4 trillion in benefits to mor...
Amid record high inflation, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023, the highest increase in 40 years. The Social Security Administration announced the change Thursday. It will result in a benefit increase of more than $140 per month on av...
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022, the Social Security Administration announced today. The 5.9 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social...
The Social Security Administration announced Thursday that the Social Security cost-of-living adjustment for 2025 will be 2.5%. Abbreviated COLA, the annual adjustment helps the payments for more than 72 million Americans, the vast majority of them retired, keep pace with rising prices. Becau...
The annual adjustment to the Social Security wage base is based on the increase in average wages. Some states and localities index the annual adjustments to their minimum wage to increases to the Consumer Price Index (CPI). Because of current inflation, some jurisdictions have announced significant...
/ CBS Philadelphia (CBS Local)- The Social Security Administration announced Tuesday that benefits for about 70 million Americans will increase by 1.3% in 2021. The increase in benefits is a cost-of-living adjustment that will begin in January of the new year.The...
Social Security Administration has announced that Social Security and Supplemental Security Income (SSI) benefits will increase by 3.5% in 2001. For Social Security recipients the new amounts begin in January 2001, and the average monthly benefit rises to $845 from $816. Increased monthly payments...
The roughly 70 million people who receive Social Security payments will soon learn how much they'll receive in their 2025 benefit checks, with the program's annual cost-of-living adjustment (COLA) to be announced within days. Each fall, the Social Security Administration sets its annual COLA...