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Social Security Benefits Increase in 2017

Posted by Paul D. Woodard | Dec 15, 2016 | 0 Comments

Social Security and Supplemental Security Income (SSI) benefits are adjusted annually to reflect any increase in the cost-of-living as measured by a change in the Consumer Price Index (CPI). For 2017, the cost-of-living adjustment is 0.3%. As a result, Social Security benefits will increase in 2017. In addition, the earnings base subject to Social Security taxes will also be rising in 2017. The table below shows the increase from 2016 to 2017.

2017

2016

Cost-of-Living Adjustment

0.3%

0%

Maximum earnings subject to Social Security Tax

$127,200

$118,500

About the Author

Paul D. Woodard

Paul Woodard practices in the areas of Employee Benefits, Employee Stock Ownership Plans, Pension and Profit Sharing Plans, ERISA, ERISA Litigation, Business Law, Qualified Domestic Relations Orders (QDROs), and Estate Planning.

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