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.