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The Social Security program has existed since 1935, but COLAs were not introduced until the mid-1970s. Back then, the adjustments were much larger than they are now. Between 1975 and 1982, COLAs ...
Social Security this week announced its annual cost-of-living adjustment for 2014. As predicted, the increase will be 1.5%, which translates roughly to an additional $19 per month for the typical ...
Every year, Social Security reviews and typically increases both the amount it pays recipients and the wage base it taxes to cover those benefits. The payment increase is supposed to help ...
The Average Indexed Monthly Earnings (AIME) is used in the United States' Social Security system to calculate the Primary Insurance Amount which decides the value of benefits paid under Title II of the Social Security Act under the 1978 New Start Method. Specifically, Average Indexed Monthly Earnings is an average of monthly income received by ...
Increase Social Security taxes. If workers and employers each paid 8.0% (up from today's 6.2%), it would provide solvency through 2090. Self-employed persons would pay 16.00% on earnings (up from today's 12.4%) under this proposal. [119] Raise the retirement age(s). Raising the normal retirement age by two months per year until it reaches 69 in ...
Follow @SelenaMaranjian The cost of living is rising in America, and along with it comes a Social Security increase for 2014. That's the good news. The bad news is that it's just a 1.5% increase ...
Because of this, waiting to claim Social Security can substantially increase your checks. If you qualify for the average $1,917 benefit at 62, waiting until 63 to claim would add $96 to your ...
(This Bankrate calculator can help estimate your Social Security check.) How to earn Social Security credits. In order to qualify for Social Security benefits, you need to accrue 40 credits, if ...