[Ohio-talk] 2017 SOCIAL SECURITY CHANGES.docx

[Suzanne Turner]

2017 SOCIAL SECURITY CHANGES 

o Cost-of-Living Adjustment (COLA): 

Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2014 through the third quarter of 2016, Social Security and Supplemental

Security Income (SSI) beneficiaries will receive a 0.3 percent COLA for 2017. Other important 2017 Social Security information is as follows: 

2016 2017 

o Tax Rate: 

Employee 7.65% 7.65% 

Self-Employed 15.30% 15.30% 

NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable

taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings. Also, as of January 2013, individuals with earned income of more

than $200,000 ($250,000 for married couples filing jointly) pay an additional 0.9 percent in Medicare taxes. The tax rates shown above do not include the

0.9 percent. 

o Maximum Taxable Earnings: 

Social Security (OASDI only) $118,500 $127,200 

Medicare (HI only) N o L i m i t 

o Quarter of Coverage: 

$1,260 $1,300 

o Retirement Earnings Test Exempt Amounts: 

Under full retirement age $15,720/yr. $16,920/yr. 

($1,310/mo.) ($1,410/mo.) 

NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit. 

The year an individual reaches full $41,880/yr. $44,880/yr. 

retirement age ($3,490/mo.) ($3,740/mo.) 

NOTE: Applies only to earnings for months prior to attaining full retirement age. One dollar in benefits will be withheld for every $3 in earnings above

the limit. 

There is no limit on earnings beginning the month an individual attains full retirement age. 

o Social Security Disability Thresholds: 

Substantial Gainful Activity (SGA) 

Non-Blind $1,130/mo. $1,170/mo. 

Blind $1,820/mo. $1,950/mo. 

Trial Work Period (TWP) $ 810/mo. $ 840/mo. 

o Maximum Social Security Benefit: Worker Retiring at Full Retirement Age: 

$2,639/mo. $2,687/mo. 

o SSI Federal Payment Standard: 

Individual $ 733/mo. $ 735/mo. 

Couple $1,100/mo. $1,103/mo. 

o SSI Resources Limits: 

Individual $2,000 $2,000 

Couple $3,000 $3,000 

o SSI Student Exclusion: 

Monthly limit $1,780 $1,790 

Annual limit $7,180 $7,200 

o Estimated Average Monthly Social Security Benefits Payable in January 2017: 

Before After 

0.3% COLA 0.3% COLA 

All Retired Workers $1,355 $1,360 

Aged Couple, Both Receiving Benefits $2,254 $2,260 

Widowed Mother and Two Children $2,686 $2,695 

Aged Widow(er) Alone $1,296 $1,300 

Disabled Worker, Spouse and $1,990 $1,996 

One or More Children 

All Disabled Workers $1,167 $1,171

 

 


  

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