Here is the list of the 5 changes coming in 2015:
Bigger Payments
Higher Tax Cap
Larger Earnings Limits
Your statements in the Mail
The Maximum benefit increases
Today, the Social Security Administration announced on that the social security recipients will receive a 1.7 percent increase on their 2015 checks.
The 1.7 percent increase will be in January 2015 and the increase comes out to be $22 more a month for an individual and $36 more a month for retired couples.
The increase is considered another cost-of-living adjustment that usually increases yearly.
The US News reports says, “Social Security payments are automatically adjusted each year to keep up with inflation… Previous cost-of-living adjustments have ranged from zero in 2010 and 2011 to 14.3 percent in 1980. The 1.7 percent increase retirees will receive in January is similar to the 1.5 percent adjustment for 2014 and 1.7 precent increase in 2013.”
Check out the details of the other 4 changes to be coming in 2015. These changes may effect you or your loved ones.
Via:usnews.com
