The “Largest Social Security Increase” in Six Years Has Just Been Made Official

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Fall is fast approaching and bringing with it some good news for those receiving Social Security benefits. While the official announcement will not come until October, the Social Security Board of Trustees is releasing early projections. As it stands now, beneficiaries are on par to receive a 2.1% cost of living adjustment.

That is the biggest increase in six years.

In 2017, recipients saw a minor increase of 0.3%. That put the average monthly payment at $1,360 for single recipients and $2,260 for married couples. The 2018 adjustment will likely result in an increase of $30-$60 a month. We know this doesn’t sound like a lot. But, given there have only been three increases in the last eight years, it is certainly better than nothing.

Additionally, there is always the hope that the actual October number could be higher. Social Security analysts are attributing the larger COLA, to the stronger economy and improving job market under President Trump.  Earlier this year, we published a story regarding the connection between SS and economics, which supports their analysis.

Additional Changes

Nonetheless, COLA increases are not the only changes coming in 2018. The full-retirement age for new retirees born in 1956 will be rising by two months in 2018 to 66 years and four months. However, this is not a recent change. The increase in retirement age was signed into law by Congress back in 1983, to account for longer life expectancies.

Furthermore, the wealthy will be paying more next year. Higher wages are often seen in a growing economy. This year, those earning up to $127,000 are subject to the payroll tax of 12.4%. That number is paid in equal parts by the worker and employer, with each paying 6.2%. For 2018, the income limit is expected to increase roughly 3% taking it to just over $130,000.

Regardless, there is still plenty of work to be done to improve the system. The president’s efforts to crack down on fraud and abuse will certainly help. And, bills such as the “Social Security Reform Act” are currently working their way through Congress, and could bring much-needed changes.

With nearly 60% of retirees relying on benefit payments to survive, reform can’t come soon enough, right?

 

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  • KYSTEELGIRL

    How much are they going to raise our taxes to support these nasty illegal aliens he wants amnesty for? I was an avid Trump supporter…fool me once

    • HokieBird

      Trump didn’t award them Ss. This goes to Obama and Bush. I’m not thrilled with the DACA issue either, but I’ll give him a little time.

      • Brenda Cooke Bovender

        Me too. Hannity played clips of him on White House lawn answering questions when he returned from FL. NO amnesty has been given. NO amnesty! He repeatedly said. The media can’t bring him down with the Russian narrative, the race card is getting old, they have nothing but his supporters to go after. Divide and turn his base against him is the only thing that will bring him down. Stay strong. Look what he has to deal with and fight against every day.

        • Donna Bergeron

          It don’t matter how much of a raise we get Medicare payments will take it for the premium

      • KYSTEELGIRL

        I said taxes

    • Linda Gersin

      You are incorrect, get your facts straight. And stick with President Trump, he’s our only hope.
      … Jim.

      • KYSTEELGIRL

        Then we are screwed…he is proving he is nothing but another lying politician

        • Linda Gersin

          Who is the “he” in your post? Quote: “to support illegal aliens HE wants amnesty for”. Please let us know who “HE” is.
          … Jim.

    • Jewel Olvera

      What amnesty?? You must have been watching CNN. Check out One American News Network.

    • Carol Davis Zucker

      If the Dream Act passes (a statute for the same DACA folks) it will apply only to people brought here as children without any fault on their part. These are productive people who pay taxes – unless they are in college.

  • HokieBird

    Thanks! It’s a lot to me! I also have usually received my updated stipend info by now for 2016 earnings, but haven’t yet.

    • Anita Novath Azzarello

      they never send out statements now they’ve been not sending statements for several years unless they are requested by you. Obama stopped that to try to save money because it cost hundreds of thousands of dollars to mail out the statements

      • HokieBird

        Funny, I’ve gotten them for the last two years, I not by request. Thanks for the info though.

  • stags43

    He did not give anyone amnesty and says there will be no amnesty given. It is a hard situation for these people also. They were children when brought here. My only issue is they should already applied and gotten their citizenship!! Why have they not atleast applied for it by now. They surely know someone who can sponsor them after all these years. I think if they have a job and no criminal actions I do believe they should be the only ones to get any kind of benefit here. If they have no job and are on welfare, bye bye!!!!!

    • Barbara Elliott Pharr

      You are so right!

    • Carol Davis Zucker

      An undocumented alien like the DACA folks CANNOT apply for citizenship. An undocumented alien who accrues more than 180 days, but less than one year, of unlawful presence are barred from being re-admitted or re-entering the United States for three years; those who accrue more than one year of unlawful presence are barred for ten years.

  • Steve Holsten

    They’ll give it on Soc Sec & then take it back in Food Stamps.

    • Tim Crump

      Social security, we all pay into. Food stamps are welfare. One doesn’t have anything to do with the other.

      • Nancy McCoy Crowder

        Actually they do when my income (In this case social security)every 2$ increase equals 1$ decrease in my food stamps. My housing subsidy decreases when income goes up. Medicaid spenddown (the portion I pay before Medicaid pays anything) goes up. Medicare premium and copays will probably go up. When increases are added up equal more than COLA. !!!!!

  • Sherry Romano

    medicare premiums will raise…so we won’t get it all…sad

    • Angie Kissel Weightman

      Right, whatever the increase, they turn around and take it right back.

      • tammy

        Plus more

  • Linda Gersin

    We did NOT get a 0.3% increase for 2017, we DID get a 0.03% increase for 2017.. Ol’ Missy Jackson reported it wrong.
    … Jim.

  • John Kish

    It’s a cost of living raise. The cost of living has gone up, so there’s an increase in social security. It has nothing to do with Trump.

    • Linda Gersin

      Believe it or not but the S.S C.O.L.A. is based on the price of crude oil.

    • Berdyne Escher

      It must have something to do with Trump because the cost of living has gone many times and we didn’t get any raises.

    • Steven A Rhodes

      Sorry but you are incorrect. The politician’s are the ones that decide whether Soc sec is raised or not based on the economy. Like most, you need to learn the system before you make a statement.

      • John Kish

        I refer you to “Cost-of-Living Adjustment (COLA)”-Social Security web site.

      • Carol Davis Zucker

        Not true. Cost-of-living changes are automatic.

    • Obamie

      Wrong. Again you fail to give Trump credit for anything.

      • John Kish

        Again, I refer you to the Social Security web site, Cost of Living Adjustment (COLA).

        • Obamie

          Again, you fail to give Trump credit for anything.

      • John Kish

        When it’s due.

  • Ken Dare II

    The Fricken Politicians should get the same thing when they Retire as we get !

  • Donald Anderson

    A lot of the politicians don’t think things through. From North to South and East to West. The cost of living is A lot of deference in the cost of living.

  • tandee

    The cost of living went up more than that.

    • Obamie

      They use common core math to calculate the COL.

      • Sandra Camille High

        Common Core math isn’t what people think or try to explain. It is just another way to figure and get an answer and too, I’ve seen it done. The way I’ve heard it explained by folks who don’t know what it is, is just totally rediculous. It was said that any answer given is o k and that just isn’t true at all.

        • Obamie

          You don’t need to enlighten me pertaining to common core. I teach it everyday.

  • Fred Connors

    Pathetic. Equals about five loaves and a couple gallons of milk

    • Jody Lopez

      More bread and milk than you had before!!! Anything is better than nothing!

      • Fred Connors

        Right. So congress can get the same percentage raise as we do. Anything is better than nothing.

        • tammy

          For them it is hundreds of $. For us it’s a few dollars. Then they take out more for Medicare, meds, deductables. You used to get 1200 a month, now after your raise you come out with `1120 a month and they call that a raise. They also say the col has not gone up. They don’t count little necessities like food, gas, rent etc as col

      • Gail Lengyel Foster

        Have you really priced a loaf of bread lately? I can hardly afford to buy bread, unless it’s on sale!!

        • Tommy S

          99 cent’s a loaf for white bread so if you can’t afford a loaf of bread you obviously don’t know how to budget your income. I worked my entire life on the books since age 12 until I got permanently disabled from an injury this past January.

          • Gail Lengyel Foster

            Where I live, bread is $2.50 a loaf & upwards for a good loaf of grain bread. White bread is bad for you, I do not eat it. I am diabetic & white food is bascially sugar!! And it’s NOT 99cents! Ialso have worked & do budget my money, my SS is under $1,000 a month, & it’s not easy budget that out!

            Sent from my Sprint Phone.——– Original message ——–From: Disqus Date: 9/19/2017 6:46 AM (GMT-05:00) To: [email protected] Subject: Re: Comment on Largest Social Security Increase in Six Years Is On The Way
            “99 cent’s a loaf for white bread so if you can’t afford a loaf of bread you obviously don’t know how to budget your income. I worked my entire life on the books since age 12 until I got permanently disabled from an injury this past January.”

            Settings

            A new comment was posted on Monday Monday

            Tommy S

            99 cent’s a loaf for white bread so if you can’t afford a loaf of bread you obviously don’t know how to budget your income. I worked my entire life on the books since age 12 until I got permanently disabled from an injury this past January.

            6:46 a.m., Tuesday Sept. 19

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            Gail Lengyel Foster:

            Have you really priced a loaf of bread lately? I can hardly afford to buy bread, unless it’s on sale!! Read more

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          • Faye Ward

            Tommy S- I don’t know where you can get a loaf of bread for $.99. the cheapest i can find at Walmart is $1.98 a loaf. Please tell us where you shop that you get it for $.99 a loaf.

          • Jani M Neugebauer

            on sale at price chopper

  • Linda Hulsey

    get a grip folks remember this is way better than HER …..trump is a business man and he will make deals and things will turn out the way he wants it to it might be looking like he is dealing with the left but let them think that and it will be for OUR benefit relax and wait heck we been waiting for over 8 yrs now just keep the cool and you will see

  • Mike

    Yeah, Social Security should merge with Federal retirement.

    • Joe Beakley

      Social security has been merged with Federal Retirement since 1985. In 1985 Federal employees had the option to merge with SS or keep the CSRS system. After 1985 all new federal employees are under SS..

  • Linda Shelby

    I was a stay at home Wife and Mother for years. I never received a wage but if I had my Social Security would be much higher. This was a job just as all jobs are. Just a thought.

    • Obamie

      Doesn’t it make you angry that an immigrant can come to America and receive SS, even if they have never worked a single day,

      • Carol Davis Zucker

        Documented immigrants with the right to work receive social security benefits calculated the same way as citizens, based upon the contributions made while working. Undocumented immigrants do not receive social security benefits.

        • Sharon Barnes

          Why not? they get everything else?

        • tammy

          They are not suppose to, but they do. Just like they are not suppose to get welfare, but most of them are on it with all the bennies

      • Sandra Camille High

        No one receives Soc Sec unless they have worked and paid into the system. Undocumented immigrants can get a tax number in order to work. Soc Sec reports show that undocumented immigrants paid in $13 billion in taxes last year. They cannnot file for a return nor can they ever receive Soc Sec benefits unless they become citizens.

        • Robert Connell

          Bullshit

        • Sharon Barnes

          Fake news. Not true. They cost us far more than they put in, like trillions.

        • tammy

          Wrong, there are programs where the illegals and the “immigrants get fast tracked onto SS and onto Medicare. Even Obama’s aunt is here illegally and lives in housing, gets SS and Medicare, food stamps etc. Does anyone do anything about it…NO. They all know where she is and no one is going to send her packing. Yet she is living off us

      • Bobbie 828

        You’re a damn liar. On your way, back to Moscow!

        • Obamie

          I know. I just wanted to feel what it was like to be a lying liberal for a day. Funny you should call someone liar when you obviously voted for the most dishonest bitch or person to ever seek the presidency. Keep wallowing in those tears.

          • David Kunz

            troll

    • Linda Tate Wilson

      The question is how much did you and your employer pay in for you over those years. We PAID for our “Benefits”. Many of us worked AND took care of our husband and children. Just a note. SS is not welfare.

    • jexni

      And if you were married for years you get SS (as he does/would) based upon the contributions of your spouse, I don’t understand your complaint? The minimum wage isn’t designed to raise a family and SS isn’t designed on an actuarial basis to provide a handsome retirement. People need to supplement their savings for retirement.

      • David Hinsley

        The only fis we need for ss is for Congress to stop stealing the money from ss and pay all the money back that they have tole over the years.there are worse thieves than the ones in congress

        • Sharon Barnes

          I saw something about a special visa for immigrant citizens to be able to bring their aging parents into the country to take care of them. I only hope they won’t put them on SS and MC. I b et they do. We must stop taking people who put nothing in.

          • tammy

            Of course they will be on SS and Medicare with more than I get. They get special since they have nothing when they get here. I read where a S. American illegal age 62 came into this country, got put on SS and within a month got a kidney transplant. I have a friend who was born here who has been waiting for 12 years for a transplant. Where is the justice in that?

      • Sharon Barnes

        We waited until he was 70 to file. It makes a huge difference. he only drew it for 3 months before he passed. I should have gotten mine at 65. We left money on the table.

      • tammy

        Great, suppliment it with what. I worked my butt off, raised two kids on my own and only had enough for necessities. There was no extra, Not enough for my kid to go with his music class to NY to compete. not enough for my kids to go to college, just enough to feed them, house them in a small house buy used clothes, old car etc. Where was I suppose to get money to “save” I did not even have health insurance for 13 years. I worked 2-3 jobs. Just where would you have suggested I get all that extra money from. Not everyone is as wealthy as you, and being a woman, my pay was always lower than most men, even tho my job was to save lives. The garbage man made much more than I did and had all the bennies

  • Donald Duke

    I think ss should be much higher i pay in all most 3000 a year and my mom cant even afford her meds now you just think 3000 a yr for 29 yrs who gets that

    • jexni

      Hard to say that she deserves more, what are the actual numbers? How much did your mom put in? Is she collecting off of your father’s contributions or her own? Were another benefits received? I bet it wasn’t anything near $3000 a year? How long has she been collecting? Some people die before they collect a dime, some live collecting for 40 plus years or much more if disabled. Nothing stops anyone from saving and investing extra on their own and if there was no mandatory SS contributions, 85% of Americans would probably retire with nothing for retirement.

      • TG Pfeiffer

        My husband worked since he was 15 years old. I did too. I have degenerative disc disease, where my discs in my spine are disintegrating at one per year. I inherited this diease. I would rather work, but I can’t. When my husband died, my income was cut by 2/3’s. When a widow or a widower gets part of their spouses SS income, they only get a SMALL part! I get an extra $399 a month, when he was being paid $1547/month for his SS income, with taxes and medicare taken out of that amount first. So don’t tell me I am living high on the hog. I am barely making it, and I don’t even qualify for food stamps bc he died Jan of 2017, so last years taxes showed the income when he was alive. I am living on peanut butter and bananas. Asshat!

        • Sharon Barnes

          I get my husband’s entire payment. What I don’t get is mine. they cut me back last year because I made too much money. Really?

    • Neil Fountaine

      Thank you Donald Duke. You and millions more pay into the SS for us, including yourself when it will be your turn. Please try to put aside more for you when you do get there though. Downsizing will be a must

  • Vicki Crosby

    I want to know why if I get a $5.00 increase in my disability check they take at least that much from my food stamps. I get 900 a month and 66 dollars FS. That isn’t much after working all my life.

    • Nancy

      Well I get 748 a month and get 78 in
      fs.

      • Don Trumpulis

        dang, who do you guys get that much in food bennies?
        They only wanna give me 16 bucks (a month!) total.

        BTW: Thats like 4 gallons of milk per month. (Ive tried)
        . . . . . Man cannot like on milk alone

  • Bill

    and your cost increase for Medicare will go up an equivalent amount. Therefore–NO RAISE—again.

    • Don Jewell

      Also if you get food stamps they will go down too. After that last raise (.3%) my food stamps went from $77 to $16 and I didn’t even gain that much in Social Security.

      • Garys_opinion

        Nobody should get food stamps.

  • David Kunz

    BS – the economy is not stronger and the work force is attributed to longer term past efforts.
    “The disappointing US economy keeps coming up short… CBS News”

    • George H Missita

      CBS;thats your problem, you listen to that to much.Nothing but Bull —-.

    • Garys_opinion

      You believe CBS news?

      • MaryLou93063

        no- especially since the Market is higher than ever-

    • Tricia Parham

      More Fake News from CBS and David Kunz

  • Carol Carey

    should be like 300.00 more that would help alot they took our s.s. out for themselfs without asking us they should pay it back than we could live a nice life

  • MaryLou93063

    No – I feel each person should get a min, of $2000, and good benefits.

  • David Kirk

    How much has the politicians increased their wages and benefits…be sure to add obama, moocheele and mom…

  • David Kirk

    Social Security needs a new over site team run by citizens. ..not politicians…citizenry not politicians, and whose over site is made public before it becomes law.

    • maria dunnigan

      yep that’s why illegals have to go and legals pay into s/s/ We can’t survive on giving our benefits away and we as americans left done.

  • Miriam Jones

    Every little bit helps thankful for the blessing of a small increase…

  • Miriam Jones

    That being said we can only pray the cost of living doesn’t continue on the uphill track its been going its hard to keep up with especially for those living primarily on SS…. Meds too for so many are cost prohibitive…

  • maria dunnigan

    If you are a millionaire plus s/s should be waved unless you need it someday then you can collect, but until then you cannot collect showing such wealth. You could say, Oh, I paid into it but due to reform and hoping to save medicare for people who really need it, sorry, should be waved for now.

    • hotyeh

      If they paid into it over the years like all who have been paying into SS it is theft to with hold their payments from people regardless of their financial situation. That is fraud and theft.

  • Cathy Wilkie Ziegler

    My rent goes up $100 a year… so if I was living off SS, the $30 – $60 a month increase wouldn’t even cover that – much less the loss in LiteUpTexas benefits that used to subsidize the electricity bill, and the increase in cost of Wifi and food every year. A 2.1% increase in a very low income is still low no matter how the Government spins it.

    • tammy

      They give you a $20.00 raise in SS and take $75 for medicare or more. People who are married do not have it as hard, but single women are most likely to be in dire straights. Every year it just gets way harder. This year I won’t be able to afford anything but the barest of necessities. No TV, no phone. no fast food. no movies etc. I was not poor, but only made it pay day to pay day, working 40 hours or more. I raised 2 kids and am still paying on my house. And this joker wants a million + to play with. I think until all of us have enough to live on, no one in gov gets a raise. In fact, let them do like our forefathers did. Work a real job to support yourselves and volunteer your serves to your country. You could even get paid the same as our military non-coms. Maybe then you would see our military needs a raise too.

      • saron

        I’m grateful for any increase. A little is better than nothing.

  • i’am thankful to get it ty mr.trump

  • Ruth Wight

    Does this stArt this January,2018?

  • Pam Kerr Alvarado

    I live on soial security disability and its not that much but more than weve gotten in a long time. Wish it was more but its not. Insurance will probably go up to tame it back

    • maria dunnigan

      yep, I remember one year back in 2014 Obama took away 100.00 from my s/s check per month and then the next few years 3 or 4 dollar increase if that. One year none. He really hurt us.

      • Pojo

        He put all retirees behind as far as cost of living went. Congress added to it by 1. spending all the money paid in and 2. deciding to make it up by changing the way COLA was computed. June, July, & August are the months used to compute it. These are the months were eating is cheap (all farm produce cheaper) and deleted the months which included heating oil. Also they took themselves out of it. They were in this COLA group until Obama failed to give a raise. They took themselves out and put their raises in with federal employees.

  • Estelle Subotnlk

    It’s great if we get that raise and our insurance doesn’t go up at the same time. like most times when we get a raise our insurance goes up and we don’t even see the raise.

  • Linda Tronetti

    O don’t think I gained every time Medicare takes it away

  • maria dunnigan

    no, medicare isn’t going up

    • Pojo

      Do you know that for sure?

  • JAS

    Whoopee, that covers the cost of two Tito’s vodka on the rocks and the tip!

  • John Bristol

    I want to see them stop taking money from SS to pay for medicare.

    • John N Chloe

      or at least lower it we pay in to it and it only pays 80% then we have a copay we cant efford. And now a lot of the places want it right then and there witch we can’t all do so we go without trement because we can’t pay. and they don’t pay for insulin with a diebic needs ..sorry for the spelling im not great at it ty

  • Chris

    Thank you,,,, President Trump!

  • paulacooks

    Thank you, Mr. President!

  • Rosebud15

    Thank you!

  • JOHN VAUGHN

    We could use increase badly! Thank you President Trump

  • Bonnie LaClair Frary

    We can really use that increase!! Thank you Mr. President Trump !! Thank you for caring enough to not forget about us

  • Dianne Caudle

    Thank U Mr. President 😊

  • MediumReaper

    Rec’d a Soc Sec increase letter today & got +2.0%. It was taken away due to the medicare deduction increase from $110. to $134, so gave $24 more to the insurance withheld. But I did come out with a net of $7 more per month. It’s great to keep up with inflation!

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