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= News Release = Monthly Social Security and Supplemental Security Income benefits for more than 55 million Americans will increase 5.8 percent in 2009, the Social Security Administration announced today. The 5.8 percent increase is the largest since 1982. Social Security and Supplemental Security Income benefits increase automatically each year based on the rise in the Bureau of Labor Statistics' Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), from the third quarter of the prior year to the corresponding period of the current year. This year's increase in the CPI-W was 5.8 percent. The 5.8 percent Cost-of-Living Adjustment (COLA) will begin with benefits that over 50 million Social Security beneficiaries receive in January 2009. Increased payments to more than 7 million Supplemental Security Income beneficiaries will begin on December 31. Some other changes that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $106,800 from $102,000. Of the estimated 164 million workers who will pay Social Security taxes in 2009, about 11 million will pay higher taxes as a result of the increase in the taxable maximum. Information about Medicare changes for 2009 can be found at www.medicare.gov. http://www.ssa.gov/pressoffice/pr/2009cola-pr.htm
What else can I help you with?
What will the social security raise be for 2012?
No. Congress recently announced there will be no cost of living adjustment (COLA) for Social Security benefits in 2011. Earn-income limits will remain at 2010 levels.
If social security disability raise is 5.9 percent how much is this?
I believe the raise forpersons on disability is 3.9%. Persons on social security receive the 5.9%.
What month do they figure the Social Security raise for seniors?
The Social Security cost of living adjustment (COLA) is calculated based on the cost of living index in July, August and September of the current year. The next year's increase (or lack thereof) is typically announced around October 15.
When would you see the raise in social security benefits?
At this time August 6 2010 no one would know when or what year that a COLA raise will added to the the social security benefit amounts that are currently being received in the year 2010. You could try using your own guess or crystal ball for this purpose.
How do you raise a child while living with your parents?
Discuss the situation with your parents and a social worker. Check if you are entitled to social benefits payments.
What happened in the 80s that caused an upheaval in the social security system?
In the 1980's there was an upheaval in the Social Security system in the United States because funds were actually dwindling. Laws were passed to tax Social Security benefits and actually raise the age of retirement.
Will veterans get cost of living raise next year?
will veterans get cost of living raise next year?
When was Raise the Alarm - The Living End song - created?
Raise the Alarm - The Living End song - was created in 2008.
What is the difference between a cost of living raise and a regular pay raise?
A cost of living raise is based on the cost of living. A regular pay raise is not.Another Answer:Regular pay is how much you get paid regularly. If you get a "regular" raise, that means that you have been doing well in the firm and you earned the money. If Cost Of Living raises that means what it says, the cost of living has raised. This way, it does not mean that you deserve a raise, just that you need one because of expenses.
What about the cost of living raises for military retiree's?
The cost of living adjustment (otherwise known as COLA) is determined by the current president and what the house/senate agree to. If those on social security do not get a COLA then those getting pay from the VA are not getting a raise either and vice versa
How Inadequate social welfare assistance affects people because of poverty?
Inadequate social welfare assistance affects people who are impoverished by leaving them in poverty and not providing them further economic aid to raise their standard of living.
How long it takes to qualify for raise social security disability?
The basic Federal payment is a standard amount for everyone. States may chip in a supplemental amount. Raises are determined by Congress and are not on a set schedule. If your circumstances change and deductions for other payments should no longer be taken, you should visit Social Security for an adjustment.
