{"id":3380,"date":"2021-12-16T14:36:16","date_gmt":"2021-12-16T14:36:16","guid":{"rendered":"http:\/\/wordpress.thetruthtoledo.com\/?p=3380"},"modified":"2021-12-16T14:36:16","modified_gmt":"2021-12-16T14:36:16","slug":"social-security-benefits-increase-in-2022","status":"publish","type":"post","link":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/2021\/12\/16\/social-security-benefits-increase-in-2022\/","title":{"rendered":"Social Security Benefits Increase in 2022"},"content":{"rendered":"

Social Security Column<\/strong><\/p>\n

By Erin Thompson<\/em>
\nSocial Security Public Affairs Specialist in Toledo, OH<\/em><\/p>\n

Approximately 70 million Americans will see a 5.9% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2022.\u00a0 Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor\u2019s Consumer Price Index (CPI-W).<\/p>\n

The CPI-W rises when inflation increases, leading to a higher cost-of-living. \u00a0This change means prices for goods and services, on average, are a little more expensive, so the cost-of-living adjustment (COLA) helps to offset these costs.<\/p>\n

We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees.\u00a0 But, if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your my Social Security account at www.ssa.gov\/myaccount<\/a>. \u00a0You can access this information in early December prior to the mailed notice.<\/p>\n

If you prefer to access your COLA notice online and not receive the mailed notice, you can log in to your personal my Social Security account at www.ssa.gov\/myaccount<\/a> to opt out of a mailed COLA notice and any other notices that are available online by updating your Preferences in the Message Center.\u00a0 Did you know you can receive a text or email alert when there is a new message waiting for you? \u00a0That way, you always know when we have something important for you \u2013 like your COLA notice. \u00a0If you don\u2019t have an account yet, you must create one by November 17, 2021, to receive the 2022 COLA notice online.<\/p>\n

January 2022 marks other changes that will happen based on the increase in the national average wage index.\u00a0 For example, the maximum amount of earnings subject to Social Security payroll tax in 2022 will be higher.\u00a0 The retirement earnings test exempt amount will also change in 2022 and you can view that at www.ssa.gov\/news\/press\/factsheets\/colafacts2022.pdf<\/a>.<\/p>\n

Be among the first to know! Sign up for or log in to your personal my Social Security account today. \u00a0Choose email or text under \u201cMessage Center Preferences\u201d to receive courtesy notifications. \u00a0\u00a0You can find more information about the 2022 COLA at www.ssa.gov\/cola<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Social Security Column By Erin Thompson Social Security Public Affairs Specialist in Toledo, OH Approximately 70 million Americans will see a 5.9% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2022.\u00a0 Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor\u2019s Consumer Price Index (CPI-W). […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"wf_post_folders":[90],"class_list":["post-3380","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/posts\/3380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/comments?post=3380"}],"version-history":[{"count":1,"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/posts\/3380\/revisions"}],"predecessor-version":[{"id":3381,"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/posts\/3380\/revisions\/3381"}],"wp:attachment":[{"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/media?parent=3380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/categories?post=3380"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/tags?post=3380"},{"taxonomy":"wf_post_folders","embeddable":true,"href":"http:\/\/wordpress.thetruthtoledo.com\/index.php\/wp-json\/wp\/v2\/wf_post_folders?post=3380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}