The Social Security Administration announced today that the cost-of-lining adjustment or COLA for 2013 will be 1.7%. Monthly Social Security payments will increase by 1.7% as will monthly Supplemental Security Income payments. Social Security will make other changes beginning January 2013 based on the COLA. For example, the maximum earnings subject to the Social Security payroll tax will be $113,700 in 2013, up from $110,100 in 20102. The amount a person can earn per month and still receive Social Security Disability benefits increases to $1040 for next year from $1010 this year.
For the last two years, the Social Security payroll tax was decreased from 6.2% to 4.2%. This temporary reduction is set to expire under current law at the end of this year. SSA provides additional information on all the changes here.
If you are filing for Social Security Disability benefits, you should contact our office so you have an experienced lawyer who keeps current with the Social Security programs and works hard to make sure you get the benefits you deserve. Call us at 303-780-7329 or click to arrange for your FREE Denver and Greeley area Social Security attorney consultation. We help disabled individuals all over the United States obtain the benefits they deserve.