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1. The cost-of-living adjustment. Seniors get a bump in their Social Security benefit every year called the cost-of-living adjustment . The 2025 COLA of 2.5% was announced in October and goes into ...
Technically, the Social Security Administration first applied the 2.5% cost-of-living adjustment (COLA) to the December 2024 benefit. 5 2025 Social Security Rules That Take Effect Today Skip to ...
Image source: Getty Images. Bad news: Important costs are going to offset some or all of your 2025 COLA. But as noted earlier, Social Security's 2025 COLA is a mixed bag.
3. Maximum Social Security benefit also set to increase. The maximum Social Security benefit for a worker retiring at full retirement age will increase from $3,822 in 2024 to $4,018 in 2025. This ...
Consequently, someone that makes $200,000 will pay the same amount in Social Security taxes as someone that makes $1 million or even $100 million. Importantly, the Social Security payroll tax rate ...
Image source: Getty Images. 1. 2.5% cost-of-living adjustment (COLA) The big Social Security news from the last couple of months has been the 2025 COLA, which came in at 2.5%.This is under the 3.2 ...
In October, the Social Security Administration announced a 2.5% cost-of-living adjustment (COLA) for retired workers and other beneficiaries in 2025. That change, coupled with annual modifications ...
It's not a given that you'll pay Social Security taxes on your entire salary. Each year, there's a wage cap put in place that determines how much income is taxed to fund the program. In 2025, that ...