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Social Security Benefits Going Up

Monthly Social Security and Supplemental Security Income benefits for more than 66 million Americans will increase 2.0 percent in 2018, according to the Social Security Administration. 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. Of the estimated 175 million workers who will pay Social Security taxes in 2018, about 12 million will pay more because of the increase in the taxable maximum.

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