Each year, the Social Security Administration makes adjustments and changes to how its program works. 2022 makes one of the biggest changes the program has made in almost 40 years. The
Social Security payments are growing and in a big way. In 2022 there was a 5.9% cost-of-living adjustment (COLA) to Supplemental Security Income (SSI) checks and monthly retirement checks. This is the most significant COLA increase in almost 40 years. This means retired workers are expected to see a climb in their Social Security benefits by $92 to $1,657 per month.
Some other changes that took effect in 2022 include:
- The full retirement age will rise to 67 for anyone born in 1960 or later.
- Social Security beneficiaries who are younger than 67 can earn up to $19,560 before their benefit is temporarily withheld.
- The earnings subject to the Social Security tax increased from $142,800 a year to $147,000.
- Slight rise in disability benefits.
- It now takes $1,520 to earn one Social Security credit. For more information on how Social Security credits work, visit the SSA Retirement Benefits page here.
One thing that remained the same was the Social Security tax rates—6.2% for employees and 12.4% for those self-employed.
Having Trouble Filing?
Filing for Social Security disability can be tricky. Whether you have questions about the application process, your SSDI or SSI eligibility, or a denied claim, we’re here to help. Contact our Florida Social Security disability attorneys today when you're ready to take action.
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