Is SSA going green? The SSA has decided to stop sending those statements to save some green — projected savings are $30 million in fiscal year 2011 and $60 million in fiscal year 2012. Anyone with a birthday between July and December won’t receive a statement this year. This move is part of the SSA’s shift toward a paperless system.
Is Social Security going paperless? The Social Security Administration (SSA) recently announced plans to stop mailing annual benefits statements and phase out paper checks for payment of all federal benefits.
Is Social Security going out 2022? How much is the increase: Social Security benefits and Supplemental Security Income (SSI) payments for approximately 70 million Americans will increase by 5.9% in 2022. This is the annual cost-of-living adjustment (COLA).
What changes are coming for Social Security recipients?
- Social Security recipients will get a 5.9% raise for 2022, compared with the 1.3% hike that beneficiaries received in 2021.
- Maximum earnings subject to the Social Security tax also increased—from $142,800 a year to $147,000.