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Social Security payments for next year are going to be a little larger than this year’s — a total of 5.9% more, thanks to the largest cost-of-living adjustment increase in almost four decades.
The latest cost-of-living (COLA) adjustment boosted Social Security and Supplemental Security Income (SSI) payments by 8.7%, outpacing current inflation. This year, SSI recipients should see a ...
According to the Social Security Administration (SSA), about 68 million Americans received Social Security benefits in September 2024. With roughly 20 percent of the country receiving benefits ...
The Social Security Fairness Act (SSFA), which was recently signed into law on Jan. 5, by President Joe Biden, eliminates rules that reduce Social Security benefits for those who also get income ...
Image source: Getty Images. 1. The 2025 Social Security COLA. Social Security beneficiaries are getting a 2.5% cost-of-living adjustment, or COLA, starting with the payment they receive in January ...
If you’re below full retirement age but still working, Social Security can deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2023, the limit is $21,240.
Social Security is primarily funded by the 12.4% payroll tax collected on earned income (wages and salary, but not investment income). In 2024, earned income between $0.01 and $168,600 was subject ...
Image source: Getty Images. 1. Social Security benefits are rising by 2.5%. Each year, Social Security benefits are eligible for an automatic cost-of-living adjustment, or COLA.
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