Monthly Increases

Photo Credit: pbs.org 2017 is bringing modest payment increases for social security recipients. The average monthly payment will increase to $1,360 for single recipients and about $2,260 for married couples.

Higher Earnings Limit

Photo Credit: fool.com

Recipients who want or need to work will be able to earn more in 2017.  Those under 65 can earn up to $16, 920 this year.  Those who are turning 66 can earn as much as $44, 880, this is up $3,000 from last year.

Fewer Penalties For Workers

Photo Credit: thewatermarkgrp.com

In the past, if you worked and received benefits you were penalized if you earned too much. Those penalties are going down this year. $1 in benefits will be withheld for every $2 over the maximum earnings for those under age 65.

For those who are 66, but not yet full retirement age (66yrs, 2 months), $1 for every $3 earned over the limit will be held back. Once you reach full retirement age, there is no limit on what you can earn. And, any money previously withheld will be returned.

Maximum Benefit Increase

Photo Credit: dcurbanmoms.com

The maximum benefit payment a person at full retirement age is allowed to receive is going up to $2,687. However, that payment could increase by more, if retirement is delayed until age 67.

Higher Tax Cap

Photo Credit: money.usnews.com

Workers currently pay 6.2% of their earnings into social security. A contribution matched by employers. Once maximum earnings are reached-nothing above that amount is taxable.

In 2016, the maximum earning amount was $118, 500. In 2017 that increases to $127, 200. This means approximately 12 million more people will be paying into social security this year.

 

Sponsored Links

 

Leave a Reply to Anonymous Cancel reply

Your email address will not be published. Required fields are marked *

You May Also Like

New Report Reveals Hidden Russia Scandal… Obama Is In Trouble

A new bombshell report proves there is a major Russia scandal. Unfortunately for Democrats, is has nothing to with President Trump,.

Look Closely At What These Conservative Actors Did When Meryl Streep Hijacked The Stage…

11Known Conservatives Watch Meryl Streep’s Anti-Trump Speech Meryl Streep Onlookers | Photo…

RIDICULOUS: Senior Vietnam Vet Is NOW Facing Federal Charges For Putting An American Flag At…

2Prosecuting Patriotism Photo Credit: judicialwatch.org U.S. Army veteran, Bob Rosebrock, is 74-years…

Monthly Increases

Photo Credit: pbs.org

2017 is bringing modest payment increases for social security recipients. The average monthly payment will increase to $1,360 for single recipients and about $2,260 for married couples.

Higher Earnings Limit

Photo Credit: fool.com

Recipients who want or need to work will be able to earn more in 2017.  Those under 65 can earn up to $16, 920 this year.  Those who are turning 66 can earn as much as $44, 880, this is up $3,000 from last year.

Fewer Penalties For Workers

Photo Credit: thewatermarkgrp.com

In the past, if you worked and received benefits you were penalized if you earned too much. Those penalties are going down this year. $1 in benefits will be withheld for every $2 over the maximum earnings for those under age 65.

For those who are 66, but not yet full retirement age (66yrs, 2 months), $1 for every $3 earned over the limit will be held back. Once you reach full retirement age, there is no limit on what you can earn. And, any money previously withheld will be returned.

Maximum Benefit Increase

Photo Credit: dcurbanmoms.com

The maximum benefit payment a person at full retirement age is allowed to receive is going up to $2,687. However, that payment could increase by more, if retirement is delayed until age 67.

Higher Tax Cap

Photo Credit: money.usnews.com

Workers currently pay 6.2% of their earnings into social security. A contribution matched by employers. Once maximum earnings are reached-nothing above that amount is taxable.

In 2016, the maximum earning amount was $118, 500. In 2017 that increases to $127, 200. This means approximately 12 million more people will be paying into social security this year.

 

Sponsored Links

 

Leave a Reply to Anonymous Cancel reply

Your email address will not be published. Required fields are marked *

You May Also Like

BREAKING: Russia And Iran Threaten To…

Iran Joins Russia To Pledge Against U.S. Putin Meets Rouhani | Photo…

Arizona Elector Comes Forward… EXPOSES Hillary Camp’s Post-Election Behaviour… “It’s HARDCORE!”

“Tolerant” Hillary supporters have redefined the definition of the word.   In…

Rosie O’Donnell and Ivanka Trump Meet… No One’s Prepared For What Happens Next

“She’s Beautiful” Photo Credit: dailymail.co.uk It was really a chance encounter the…

Accused NSA Leaker Wanted To “Burn White House Down”

A federal judge just ordered a young woman charged with leaking classified…