Good news for retirees -
“Monthly
Social Security and Supplemental Security Income (SSI) benefits for more than
60 million Americans will increase 3.6 percent in 2012, the Social Security
Administration announced today.”
The SSA has also announced that for
2012 –
“. . .the maximum amount of earnings subject to the Social
Security tax (taxable maximum) will increase to $110,100 from $106,800.”
This is the first COLA increase in
Social Security benefits since 2009.
There is no word yet on the increase in
the Medicare Part B premium withheld from Social Security benefits.
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