{"id":5108,"date":"2014-10-22T15:16:49","date_gmt":"2014-10-22T19:16:49","guid":{"rendered":"http:\/\/gtm.com\/household\/?p=5108"},"modified":"2019-10-22T09:36:51","modified_gmt":"2019-10-22T13:36:51","slug":"social-security-benefit-increase-for-2015","status":"publish","type":"post","link":"https:\/\/gtm.com\/household\/social-security-benefit-increase-for-2015\/","title":{"rendered":"Social Security Benefit to Increase in 2015"},"content":{"rendered":"

\"socialThe Social Security Administration announced today a 1.7% Social Security benefit increase for 2015.<\/p>\n

From the Social Security Administration’s press release<\/a>:<\/em><\/p>\n

Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 64 million Americans will increase 1.7 percent in 2015, the Social Security Administration announced today.<\/p>\n

The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that more than 58 million Social Security beneficiaries receive in January 2015.\u00a0 Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2014. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor\u2019s Bureau of Labor Statistics.<\/p>\n

Some other changes that take effect in January of each year are based on the increase in average wages.\u00a0 Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $118,500 from $117,000.\u00a0 Of the estimated 168 million workers who will pay Social Security taxes in 2015, about 10 million will pay higher taxes because of the increase in the taxable maximum.<\/p>\n

See a full list<\/a> of Social Security changes for 2015, and contact<\/a> GTM’s Household Employment Experts for more information at (888) 432-7972.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Social Security Administration announced today a 1.7% Social Security benefit increase for 2015. From the Social Security Administration’s press release: Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 64 million Americans will increase 1.7 percent in 2015, the Social Security Administration announced today. The 1.7 percent cost-of-living adjustment (COLA) will begin […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[75,80],"tags":[15,22,31,34,54],"class_list":["post-5108","post","type-post","status-publish","format-standard","hentry","category-household-payroll-taxes","category-tax-wage-laws","tag-dol","tag-employee-benefits","tag-household-employer","tag-household-payroll","tag-social-security"],"yoast_head":"\nSocial Security Benefit Increase Announced for 2015 - GTM Payroll Services<\/title>\n<meta name=\"description\" content=\"A 1.7% Social Security benefit increase for 2015 was announced today by the Social Security Administration.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtm.com\/household\/social-security-benefit-increase-for-2015\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Social Security Benefit Increase Announced for 2015 - 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