Social Security updates 2023 mentions other things regarding Social Security benefits, COLA, and more.
Social Security Updates 2023
The Social Security updates 2023 shared that millions of Americans will receive their November Social Security checks. The Social Security updates 2023 also announced that different payment dates will be based on the beneficiaries’ birthdates.
The 2024 Cost of Living Adjustment (COLA) for Social Security beneficiaries has also been announced through the Social Security updates 2023 as 3.2 percent. This announcement by Social Security updates 2023 will result in an average monthly increase of $58 in January.
The Social Security updates 2023 also discusses the taxation of Social Security benefits based on income level. The Social Security updates 2023 also provide information on how remarriage and divorce can affect Social Security benefits.
According to a published article by The U.S. Sun, the Social Security updates 2023 also mentions the application process, different types of Social Security benefits such as disability, survivor, and old-age benefits, and overpayments. The future of the Consumer Financial Protection Bureau (CFPB) and its impact on Social Security funding is also mentioned in the Social Security updates 2023.
The Social Security updates 2023 also includes information on work credits, eligibility for Social Security Disability Insurance (SSDI), and the Primary Insurance Amount.
Changes In Social Security In 2023
In a published article by Yahoo Finance, the most significant being an 8.7% increase in COLA. This increase is due to high inflation rates. The average monthly payment for retired workers has risen to $1,827 from $1,681. However, not all beneficiaries will receive an 8.7% increase; individual factors such as primary insurance amount and Medicare enrollment date will determine the actual increase.