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Your email address will not be published.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

SICK Plan To Assassinate Trump At Inauguration Released… Who Was Just Arrested Is Even Sicker

President-elect Trump is no stranger to death threats. But this latest threat is not coming from an ordinary person. Puopolo is a Clinton family friend

Chilling Details Emerge About London Terrorist: “He Was a Regular Guy”

2The New “Face” of Terrorism Photo credit: LADbible They are cold, calculating,…

Exit Polls Are Trump’s Only Hope… He’s Counting On You

Exit Polls Are Trump’s Only Hope By Alex Wilkenson As confirmed this…

Muslims Shout Threats, “We will leave the country if Trump wins!”

Muslims across the country are worried if Trump wins. Along with several…

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

Social Media Theory Debunked: The Electoral College Will Not Make Clinton President

After the election results became official on Wednesday, a theory (or myth)…

Congressional Investigations Against Hillary Clinton Will Still Go Forward

Congressional Probes about former Secretary Hillary Clinton will push through, even after…

Trump Makes HUGE Announcement About “Muslim Ban”… He’s Doing This Next

1President Trump Sits Down With David Brody Trump Interview | Photo Credit…