Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million Americans will increase 1.6 percent next year, the Social Security Administration announced Thursday.

The 1.6 percent cost-of-living adjustment (COLA) begins with benefits payable to more than 63 million Social Security beneficiaries in January. Increased payments to more than 8 million SSI beneficiaries starts on Dec. 31. 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.

Social Security and SSI beneficiaries are normally notified by mail in early December about their new benefit amount.

Most people who receive Social Security payments will be able to view their COLA notice online through their my Social Security account. People may create or access their my Social Security account online at www.socialsecurity.gov/myaccount

Information for Medicare changes for next year, when announced, will be available at www.medicare.gov

For Social Security beneficiaries receiving Medicare, Social Security will not be able to compute their new benefit amount until after the Medicare premium amounts for next year are announced.

Andrew Saul was sworn in as the commissioner of Social Security in June. He will serve a six-year term until Jan. 19, 2025 and reports directly to President Donald Trump.

Contact: 609-272-7202

VJackson@pressofac.com

Twitter@ACPressJackson

Download The Press of Atlantic City App

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

PLEASE BE ADVISED: Soon we will no longer integrate with Facebook for story comments. The commenting option is not going away, however, readers will need to register for a FREE site account to continue sharing their thoughts and feedback on stories. If you already have an account (i.e. current subscribers, posting in obituary guestbooks, for submitting community events), you may use that login, otherwise, you will be prompted to create a new account.

Load comments