SSA’s official COLA notice appears in Federal Register

The Social Security Administration’s official announcement that there will be a 2.8% cost-of-living adjustment for social security beneficiaries in 2019 was published in the Wednesday, October 24, 2018, Federal Register (83 Fed. Reg. 53702). The $132,900 tax and benefit base, retirement earnings test exempt amounts, benefit computation formulas, amounts required for a quarter of coverage, and other parameters dependent upon the cost-of-living amount and national average wages also are provided in the notice. Although these amounts were discussed in Payroll Management Guide Report Letter 2576, dated October 16, 2018, the Federal Register release provides additional supplementary information detailing the statutory basis and formulas used to calculate the various amounts reported. (83 FR 53,702, October 24, 2018.)

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