Tax-Tip Tuesday, Social Security

SocialSecuritySocial Security Administration recently announced a 2.8 percent increase in benefits in 2019. This increase in benefits will impact 63 million beneficiaries and is the largest annual cost-of-living adjustment since 2012.   Impacted by this change are retirees, disabled workers, their eligible dependents and surviving family members.

The 2.8 percent increase brings the average Social Security benefit to $1,461 per month, a $39 increase.  If you currently receive the maximum monthly benefit, your check will increase by $73 to $2,861 per month.

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To Recap:

  • For 2019, Social Security benefits will increase 2.8 percent.
  • This increase will boost the average monthly benefit by $39 to $1,461.
  • The maximum monthly benefit will increase by $73 to $2,861.

If you have questions about your Social Security benefits call our office to speak to one of our experienced team members 610-544-5900

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Tagged: Tax-Tip Tuesday, Social Security

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