2019 Social Security Increases

2019 Social Security Increases

While it will not be official until mid-October, it appears that Social Security benefits will be rising by 2.8% in 2019.  This will be the largest cost-of-living adjustment since 2012. Assuming the 2.8% adjustment is implemented, those receiving a maximum SSI benefit will get an additional $21 per month bringing their payment total to $771.  Those receiving Social Security retirement income will get an extra $28 for every $1,000 they are currently receiving.  That amounts to a $700 annual increase for a retiree who is receiving $25,000 in 2018. For questions about retirement income benefits or government benefits for individuals with special needs, please contact us. ...

Great News for Families in Illinois with Loved Ones with Special Needs!

Great News for Families in Illinois with Loved Ones with Special Needs!

ABLE accounts, which we have strongly recommended for several years, now have the additional benefit of providing an Illinois state income tax deduction for those who contribute to an Illinois ABLE Plan. We have been advocating for this tax deduction since the federal law creating ABLE accounts was passed in December of 2014. We are happy to see our efforts, and the voices of many other families, reflected in this new state income tax benefit. ...