[Ohio-talk] Social Security Cost Of Living Factsheet

[Suzanne Turner]

The 2018 and 2019 Factsheet with allowable amounts to work for blind and disabled individuals are below and attached. Also, information for retirerees are also included. 

If you have questions, email me or call me off list.

 

Suzanne

 

2019 SOCIAL SECURITY CHANGES 

Cost-of-Living Adjustment (COLA): 

Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2017 through the third quarter of 2018, Social Security and Supplemental

Security Income (SSI) beneficiaries will receive a 2.8 percent COLA for 2019. Other important 2019 Social Security information is as follows: 

 

table with 3 columns and 3 rows

Tax Rate

Employee 

2018, 7.65% 

2019, 7.65%  

 

Self-Employed 

2018, 15.30% 

2019, 15.30% 

table end

 

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. 

 

table with 4 columns and 9 rows

 

 

2018 

2019  

Maximum Taxable Earnings 

Social Security (OASDI only) 

2018, $128,400

2019, $132,900  

 

Maximum Taxable Earnings  

Medicare (HI only) 

No Limit  

 

Quarter of Coverage 

 2018, $1,320

2019, $1,360  

 

Retirement Earnings Test Exempt Amounts 

Under full retirement age 

2018, $17,040/yr. (

2018, $1,420/mo.)

2019, $17,640/yr. (

2019, $1,470/mo.)   

 

Retirement Earnings Test Exempt Amounts  

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

Retirement Earnings Test Exempt Amounts  

The year an individual reaches full retirement age 

2018, $45,360/yr.( $3,780/mo.)

2019, $46,920/yr. ( $3,910/mo.)   

 

Retirement Earnings Test Exempt Amounts  

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. 

Retirement Earnings Test Exempt Amounts  

Beginning the month an individual attains full retirement age. 

None 

table end

 

table with 5 columns and 18 rows

 

 

2018 

2019  

Social Security Disability Thresholds 

Substantial Gainful Activity (SGA) 

Non-Blind 

2018, $1,180/mo. 

2019, $1,220/mo.  

 

Social Security Disability Thresholds  Substantial Gainful Activity (SGA)  

Blind 

2018, $1,970/mo. 

2019, $2,040/mo.  

 

Social Security Disability Thresholds  Substantial Gainful Activity (SGA)  

Trial Work Period (TWP) 

2018, $ 850/mo. 

2019, $ 880/mo.  

 

Social Security Disability Thresholds  

Maximum Social Security Benefit: Worker Retiring at Full Retirement Age 

2018, $2,788/mo. 

2019, $2,861/mo.  

 

SSI Federal Payment Standard 

Individual 

2018, $ 750/mo. 

2019, $ 771/mo.  

 

SSI Federal Payment Standard  

Couple 

2018, $1,125/mo. 

2019, $1,157/mo.  

 

SSI Resource Limits 

Individual 

2018, $2,000 

2019, $2,000  

 

SSI Resource Limits  

Couple 

2018, $3,000 

2019, $3,000  

 

SSI Student Exclusion 

Monthly limit 

2018, $1,820 

2019, $1,870  

 

SSI Student Exclusion  

Annual limit 

2018, $7,350 

2019, $7,550  

 

Estimated Average Monthly Social Security Benefits Payable in January 2019 

 

Before 2.8% COLA 

After 2.8% COLA  

Estimated Average Monthly Social Security Benefits Payable in January 2019  

All Retired Workers 

2018, $1,422 

2019, $1,461  

 

Estimated Average Monthly Social Security Benefits Payable in January 2019  

Aged Couple, Both Receiving Benefits 

2018, $2,381 

2019, $2,448  

 

Estimated Average Monthly Social Security Benefits Payable in January 2019  

Widowed Mother and Two Children 

2018, $2,797 

2019, $2,876  

 

Estimated Average Monthly Social Security Benefits Payable in January 2019  

Aged Widow(er) Alone 

2018, $1,348 

2019, $1,386  

 

Estimated Average Monthly Social Security Benefits Payable in January 2019  

Disabled Worker, Spouse and One or More Children 

2018, $2,072 

2019, $2,130  

 

Estimated Average Monthly Social Security Benefits Payable in January 2019  

All Disabled Workers 

2018, $1,200 

2019, $1,234 

table end

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