[NFBNJ] Social Security announces 2.8% COLA for 2019

[joe ruffalo]

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Received from Pamela Gaston, NJ CBVI.

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From: Pamela.Gaston at dhs.state.nj.us [mailto:Pamela.Gaston at dhs.state.nj.us]
Sent: Friday, October 12, 2018 12:59 PM
To: CBVI.Public-Email at dhs.state.nj.us
Subject: Social Security announces 2.8% COLA for 2019

The following information is being forwarded by the NJ Commission for the 
Blind and Visually Impaired as a courtesy, in accordance with our continued 
efforts to share information that may be of interest or of benefit to 
individuals who are blind and vision-impaired.


Social Security Announces 2.8 Percent Benefit Increase for 2019

Social Security and Supplemental Security Income (SSI) benefits for more 
than 67 million Americans will increase 2.8 percent in 2019, the Social 
Security Administration announced today.

The 2.8 percent cost-of-living adjustment (COLA) will begin with benefits 
payable to more than 62 million Social Security beneficiaries in January 
2019.  Increased payments to more than 8 million SSI beneficiaries will 
begin on December 31, 2018.  (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 $132,900 from $128,400.

Social Security and SSI beneficiaries are normally notified by mail in early 
December about their new benefit amount.  This year, for the first time, 
most people who receive Social Security payments will be able to view their 
COLA notice online through their my Social Security account.  People may 
create or access their my Social Security account online at 
<https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.socialsecurity.gov%2Fmyaccount&data=02%7C01%7Ccharles.horton%40phila.gov%7C3fc4259d4f8c4c0cc2bf08d62f7e8706%7C2046864f68ea497daf34a6629a6cd700%7C0%7C0%7C636748617814980327&sdata=UoVpGuJBXqZq8BHTVMNrPoC9HxK0OwPN3ODSTTbYw0s%3D&reserved=0> 
www.socialsecurity.gov/myaccount.

Information about Medicare changes for 2019, when announced, will be 
available at 
<https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.medicare.gov&data=02%7C01%7Ccharles.horton%40phila.gov%7C3fc4259d4f8c4c0cc2bf08d62f7e8706%7C2046864f68ea497daf34a6629a6cd700%7C0%7C0%7C636748617814980327&sdata=hlraEKe38Wph2X%2F3OAcCNT4cgwr4EUc5fvg4vtkENcQ%3D&reserved=0> 
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 2019 are announced.  Final 2019 
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 
<https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.socialsecurity.gov%2Fcola&data=02%7C01%7Ccharles.horton%40phila.gov%7C3fc4259d4f8c4c0cc2bf08d62f7e8706%7C2046864f68ea497daf34a6629a6cd700%7C0%7C0%7C636748617814980327&sdata=TSj9LKo85og6%2FVIM2O6OuJp9VHcR0%2FDJ%2FbZ8nWxLLo4%3D&reserved=0> 
www.socialsecurity.gov/cola.

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