[acb-hsp] [leadership] Social Security COLA and SGA Increase

[peter altschul]

 ---- Original Message ------
From: "Eric Bridges" <ebridges at acb.org
Subject: [leadership] Social Security  COLA and SGA   Increase
Date sent: Tue, 16 Oct 2012 10:34:39 -0400

The monthly SGA amount for statutorily blind individuals for 2013 
is $1740.
That represents a $50 increase over 2012

Please read the news release below concerning the 1.7 percent 
increase for
the Cost of Living Adjustment for 2013.



Eric


Tuesday, October 16, 2012
For Immediate Release

Press Office
410-965-8904
press.office at ssa.gov




http://www.vocus.com/images/pr/ssa_logo.jpg

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 www.Medicare.gov <http://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 www.socialsecurity.gov/cola.



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