SSA Announces Cost-of-Living Adjustment (COLA) Increase for 2018

 

The Social Security Administration (SSA) announces a 2.0 percent monthly increase will be paid to all Supplemental Security Income (SSI) and Social Security beneficiaries in 2018.  According to a press release issued by the agency on, October 13, 2017: 

“The 2.0 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 61 million Social Security beneficiaries in January 2018. Increased payments to more than 8 million SSI beneficiaries will begin on December 29, 2017. (Note: some people receive both Social Security and SSI benefits) The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.”


 

Other adjustments that also go into effect in January 2018 include a change in the maximum amount of earnings subject to the Social Security tax, Substantial Gainful Activity (SGA) monthly limits, and the retirement earnings test exempt amounts.

 

 

The standard SSI federal benefit rate will increase from $735/month to $750/month. The dollar amounts considered SGA will increase $10 for the non-blind up to $1,180/month and up $20 to $1,970/month for the blind. 

 

 

For a complete listing of additional programs affected by the national average wage index, please go to SSA’s website and click on this fact sheet. 

      

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