cola chart
2017 Social Security changes 2016 2017 Change Tax rate Employee 7.65% 7.65% 0.00 Self-Employed 15.30% 15.30% 0.00 Maximum…
2017 Social Security changes
2016 | 2017 | Change | |
---|---|---|---|
Tax rate | |||
Employee | 7.65% | 7.65% | 0.00 |
Self-Employed | 15.30% | 15.30% | 0.00 |
Maximum taxable earning | |||
Social Security (OASDI &mdash Social Security portion &mdash only) | $118,500 | $127,200 | $8,700 |
Medicare (HI &mdash Medicare portion &mdash only) | No limit | No limit | N/A |
Quarter of coverage | $1,260 | $1,300 | $40 |
Retirement earnings test exempt amounts | |||
Under full retirement age | $15,720/yr. | $16,920/yr. | $1,200/yr. |
The year an individual reaches full retirement age | $41,880/yr. | $44,880/yr. | $3,000/yr. |
Social Security disability thresholds | |||
Substantial gainful activity non-blind | $1,130/mo. | $1,170/mo. | $40/mo. |
Substantial gainful activity blind | $1,820/mo. | $1,950/mo. | $130/mo. |
Trial work period | $810/mo. | $840/mo. | $30/mo. |
Maximum Social Security benefit: Worker retiring at full retirement age | $2,639/mo. | $2,687/mo. | $48/mo. |
SSI federal payment standard | |||
Individual | $733/mo. | $735/mo. | $2/mo. |
Couple | $1,100/mo. | $1,103/mo. | $3/mo. |
SSI resources limits | |||
Individual | $2,000 | $2,000 | $0 |
Couple | $3,000 | $3,000 | $0 |
SSI student exclusion | |||
Individual | $1,780 | $1,790 | $10 |
Couple | $7,180 | $7,200 | $20 |
Source: Social Security Administration
Estimated average monthly Social Security benefits payable in January 2017
Before COLA | After COLA | Change | |
---|---|---|---|
All retired workers | $1,355 | $1,360 | $5 |
Aged couple, both receiving benefits | $2,254 | $2,260 | $6 |
Widowed mother and two children | $2,686 | $2,695 | $9 |
Aged widow(er), alone | $1,296 | $1,300 | $4 |
Disabled worker, spouse and one or more children | $1,990 | $1,996 | $6 |
All disabled workers | $1,167 | $1,171 | $4 |
Source: Social Security Administration
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