Carol Johnson
Dallas County Public Administrator Past MAPA President 2018-2020
P.O. Box 1497
Buffalo, MO 65622
Office: 417-345-5899
Fax: 417-345-5898
CELL: 417-326-9962
----- Forwarded Message ----- From: "kc.act.thank.you@xxxxxxx"
<kc.act.thank.you@xxxxxxx>To: "dallascopubad@xxxxxxxxx"
<dallascopubad@xxxxxxxxx>Sent: Wednesday, October 13, 2021, 06:30:31 PM
CDTSubject: Social Security Announces 5.9 Percent Benefit Increase for 2022
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| Wednesday, October 13, 2021 |
| For Immediate Release |
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|
| Mark Hinkle, Press Officer |
| press.office@xxxxxxx |
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| News Release |
| SOCIAL SECURITY |
|
Social Security and Supplemental Security Income (SSI) benefits for
approximately 70 million Americans will increase 5.9 percent in 2022, the
Social Security Administration announced today.
The 5.9 percent cost-of-living adjustment (COLA) will begin with benefits
payable to more than 64 million Social Security beneficiaries in January 2022.
Increased payments to approximately 8 million SSI beneficiaries will begin on
December 30, 2021. (Note: some people receive both Social Security and SSI
benefits). The Social Security Act ties the annual COLA to the increase in the
Consumer Price Index as determined by the Department of Labor’s Bureau of Labor
Statistics.
Some other adjustments 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
$147,000 from $142,800.
Social Security and SSI beneficiaries are normally notified by mail starting in
early December about their new benefit amount. Most people who receive Social
Security payments will be able to view their COLA notice online through their
personal my Social Security account. People may create or access their my
Social Security account online at www.socialsecurity.gov/myaccount.
Information about Medicare changes for 2022, when announced, will be available
at www.medicare.gov. For Social Security beneficiaries receiving Medicare,
Social Security will not be able to compute their new benefit amount until
after the Medicare premium amounts for 2022 are announced. Final 2022 benefit
amounts will be communicated to beneficiaries in December through the mailed
COLA notice and my Social Security’s Message Center.
The Social Security Act provides for how the COLA is calculated. To read more,
please visit www.socialsecurity.gov/cola.
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