Social Security

Wednesday, 15 October 2008 18:00

Social Security Changes for 2009

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The Social Security Administration announces some new changes for the upcoming year.

The SSA announced today at a press release that beginning in January 2009 monthly Social Security benefits for 55 million American will increase by 5.8%. This Cost-of-Living Adjustment (COLA) is the largest increase since 1982. Another significant change for 2009 is that the maximum amount of earnings subject to Social Security tax will increase from $102,000 to $106,800.

For more information regarding these changes, visit Social Security Online at


Tuesday, 16 October 2007 18:00

Social Security Increase

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SSA announces increase in taxable wage base and monthly benefits for 2008.

The maximum amount of earnings taxable for Social Secuirty in 2008 is increasing to $102,000.00.  This is a $4,500.00 increase from 2007's wage base of $97,500.00. Along with this wage base increase is a 2.3% Cost of Living Adjustment (COLA) to the monthly benefits.  The COLA is based off of the Bureau of Labor Statistics' Consumer Price Index for Urban Earners and Clerical Workers.  The 2.3% increase will begin with the January benefits sent out by the Social Security Administration.

For more information the SSA has a fact sheet at: