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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 ...
Source: Social Security Administration. Since 2014, the average COLA has landed at 2.6%. In some ways, it's a good thing that these adjustments are much lower than they were decades ago.
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 ...
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. [120] Raise the retirement age(s). Raising the normal retirement age by two months per year until it reaches 69 in ...
The bill could also jeopardize the Social Security fund overall, critics say. Sen. Thom Tillis, R-N.C., said the Social Security trust fund is less than 10 years away from being insolvent, and ...
As a result of the 2008 financial and mortgage crisis, a hefty 5.8% increase in COLA was applied in 2009, the most significant increase that Social Security benefits had seen since 1982.
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 ...
This is how the average and maximum benefit amounts have changed since 2014 -- as well as some not-so-good news about the future of Social Security. Two people sitting at a table looking at documents.
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