[Ohio-Talk] Social Security 2022 Cost of Living Factsheet

[Suzanne Turner]

colafacts2022.
Social Security Administration, Logo
Fact Sheet
SOCIAL SECURITY
2022 SOCIAL SECURITY CHANGES
Cost-of-Living Adjustment (COLA): 
Based on the increase in the Consumer Price Index (CPI-W) from the third
quarter of 2020 through the third quarter of 2021, Social Security and
Supplemental Security Income (SSI) beneficiaries will receive a 5.9 percent
COLA for 2022. Other important 2022 Social Security information is as
follows: 
table with 3 columns and 3 rows
Tax Rate
2021
2022
Employee
7.65%
7.65%
Self-Employed
15.30%
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
  
2021
2022
Maximum Taxable Earnings
Social Security (OASDI only)
$142,800
$147,000
 Maximum Taxable Earnings
Medicare (HI only)
No Limit
Quarter of Coverage
$1,470
$1,510
Retirement Earnings Test Exempt Amounts Under full retirement age
$18,960/yr. ($1,580/mo.) $19,560/yr. ($1,630/mo.)
 Retirement Earnings Test Exempt Amounts  Under full retirement age
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 $50,520/yr. ($4,210/mo.) $51,960/yr. ($4,330/mo.)
 Retirement Earnings Test Exempt Amounts retirement age  The year an
individual reaches full retirement age
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 11 rows
  
2021
2022
Social Security Disability Thresholds
Substantial Gainful Activity (SGA)
Non-Blind
$1,310/mo. 
$1,350/mo. 
 Social Security Disability Thresholds  Substantial Gainful Activity (SGA)
Blind $2,190/mo. 
$2,260/mo. 
 Social Security Disability Thresholds  Substantial Gainful Activity (SGA)
Trial Work Period (TWP) $ 940/mo. 
$ 970/mo. 
Maximum Social Security Benefit: Worker Retiring at Full Retirement Age
$3,148/mo. 
$3,345/mo. 
SSI Federal Payment Standard
Individual
$ 794/mo. 
$ 841/mo. 
 SSI Federal Payment Standard
Couple
$1,191/mo. 
$1,261/mo. 
SSI Resource Limits
Individual
$2,000
$2,000
 SSI Resource Limits
Couple
$3,000
$3,000
SSI Student Exclusion
Monthly limit
$1,930
$2,040
 SSI Student Exclusion
Annual limit
$7,770
$8,230
table end
table with 3 columns and 8 rows
Estimated Average Monthly Social Security Benefits Payable in January 2022 
  
Before 5.9% COLA
After 5.9% COLA
All Retired Workers
$1,565
$1,657
Aged Couple, Both Receiving Benefits
$2,599
$2,753
Widowed Mother and Two Children
$3,009
$3,187
Aged Widow(er) Alone
$1,467
$1,553
Disabled Worker, Spouse and One or More Children
$2,250
$2,383
All Disabled Workers
$1,282
$1,358
table end
Social Security National Press Office Baltimore, MD This press release was
produced and disseminated at U.S. taxpayer expense. 

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