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Social Security Announces 5.9 Percent Benefit Increase for 2022, Wage Cap Will Increase as Well
U.S. Social Security Administration [SSA] [Official Guidance] Oct. 13, 2021 "The 5.9 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2022.... [T]he maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $147,000 from $142,800." |
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