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Social Security Info.

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than

65 million Americans will increase 0.3 percent in 2017

The 0.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 60 million Social Security beneficiaries in January 2017. Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2016. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.

Some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $127,200 from $118,500. Of the estimated 173 million workers who will pay Social Security taxes in 2017, about 12 million will pay more because of the increase in the taxable maximum.

Information about Medicare changes for 2017, when announced, will be available at www.Medicare.gov. For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums.

 

 If you would like an analysis of your Social Security options (start, wait, file restricted, spouse strategies, etc)     

Contact me for a review:  phone 408-646-0750,  or email  KundmuellerR@CeteraNetworks.com
 
Obtain for your reference files:        Social Security Medicare Guide
 

Web Links to the Social Security Administration website (click on topics below ).

1. Contact Us                                 The official website
 
2. Retirement Estimator                  Produce retirement estimates
 
3. What You Can Do Online             Online services
 
4. Apply For SSI, Survivors or ...     Retirement income, survivors or family benefits
 
5. Get Or Replace A Social ...          Replacing lost or stolen cards
 
 
 
 
 
 
6. Disability                                    Eligibility, applying and forms
 

 More resources from ssa.gov »

 

 

 

 

 

 

 

Securities and advisory services offered through Cetera Advisor Networks LLC (doing insurance business in CA as CFAN Insuarnce Agency), member FINRA/SIPC. Cetera is under separate ownership from any other named entity.

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