[nfbwatlk] FW: [nfb-talk] Social Security benefits to increase in 2013

[Mike Freeman]

-----Original Message-----
From: nfb-talk [mailto:nfb-talk-bounces at nfbnet.org] On Behalf Of
ckrugman at sbcglobal.net
Sent: Wednesday, October 17, 2012 10:53 PM
To: NFB Talk
Subject: [nfb-talk] Social Security benefits to increase in 2013

        News Release SOCIAL SECURITY 
Social Security Announces 1.7 Percent Benefit Increase for 2013 
Monthly Social Security and Supplemental Security Income (SSI) benefits for
nearly 62 million Americans will increase 1.7 percent in 2013, the Social
Security Administration announced today. The 1.7 percent cost-of-living
adjustment (COLA) will begin with benefits that more than 56 million Social
Security beneficiaries receive in January 2013. Increased payments to more
than 8 million SSI beneficiaries will begin on December 31, 2012. Some other
changes 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 $113,700 from $110,100. Of the estimated
163 million workers who will pay Social Security taxes in 
2013, nearly 10 million will pay higher taxes as a result of the increase in
the taxable maximum. Information about Medicare changes for 2013, when
announced, will be available at <http://www.medicare.gov/>www.Medicare.gov.
For some beneficiaries, their Social Security increase may be partially or
completely offset by increases in Medicare premiums. The Social Security Act
provides for how the COLA is calculated. To read more, please visit
<http://www.socialsecurity.gov/cola>www.socialsecurity.gov/cola. 
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