The Social Security Administration has announced changes for 2023, including an 8.7 percent Cost-of-Living Adjustment (COLA) for beneficiaries. The changes also include updates to tax rates, maximum taxable earnings, and retirement earnings test exempt amounts. These changes will affect Social Security and Supplemental Security Income (SSI) beneficiaries.
Details
Subject
2023 Social Security Changes
Summary
The Social Security Administration has announced changes for 2023, including an 8.7 percent Cost-of-Living Adjustment (COLA) for beneficiaries. The changes also include updates to tax rates, maximum taxable earnings, and retirement earnings test exempt amounts. These changes will affect Social Security and Supplemental Security Income (SSI) beneficiaries.