As part of this legal blog, we like to give free advice regarding legal matters that relate to social security and disability. As part of this blog we also like to keep our readers informed of any changes that are made to the laws regarding social security. This article will specify six such changes that take place in 2019.
- Beneficiaries will receive a 2.8% increase in payments due to the COLA (Cost of Living Adjustment). For 68 million people this is good news in the fight to keep up with the ever rising cost of living.
- Maximum taxable earnings will increase to $132,900. The 6.2% social security tax is only applicable to earnings up to that figure.
- Full retirement age will increase. 62 is the earliest a person can access their retirement. Full retirement benefits start at 66 and 4 months. This change is made in reaction to longer life span and longer career span.
- Earnings limits will increase. If you are working while collecting social security, you may find part of your payments withheld. Once you hit full retirement age no benefits will be withheld.
- Social Security disability thresholds will increase. The thresholds for disability will be increased slightly in 2019. Maximum monthly benefits will raise to $2,040 a month for the blind while those for non-blind will be $1,220.
- You will be able to view your COLA notice online. You can click mySocialSecurity
If you have any general questions or concerns about social security, disability or retirement benefits, it is advised you use the help/support they offer. If you think that you need legal assistance with your case contact a professional attorney who specializes in these matters.