{"id":47473,"date":"2022-10-14T07:36:58","date_gmt":"2022-10-14T11:36:58","guid":{"rendered":"https:\/\/www.wrfalp.com\/?p=47473"},"modified":"2022-10-14T07:36:58","modified_gmt":"2022-10-14T11:36:58","slug":"social-security-benefits-to-increase-8-7-in-2023","status":"publish","type":"post","link":"https:\/\/www.wrfalp.com\/social-security-benefits-to-increase-8-7-in-2023\/","title":{"rendered":"Social Security Benefits to Increase 8.7% in 2023"},"content":{"rendered":"<p><strong><a href=\"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?ssl=1\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"47474\" data-permalink=\"https:\/\/www.wrfalp.com\/social-security-benefits-to-increase-8-7-in-2023\/social-security\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?fit=900%2C900&amp;ssl=1\" data-orig-size=\"900,900\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Social Security\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?fit=900%2C900&amp;ssl=1\" class=\"alignright  wp-image-47474\" src=\"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?resize=375%2C375&#038;ssl=1\" alt=\"\" width=\"375\" height=\"375\" srcset=\"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?w=900&amp;ssl=1 900w, https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?resize=300%2C300&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security.jpg?resize=768%2C768&amp;ssl=1 768w\" sizes=\"(max-width: 375px) 100vw, 375px\" data-recalc-dims=\"1\" \/><\/a>Social Security benefits<\/strong> will increase 8.7% in 2023.<\/p>\n<p>The <strong>Social Security Administration<\/strong> announced that the 8.7% cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security beneficiaries in January 2023. Increased payments to more than 7 million <strong>SSI<\/strong> beneficiaries will begin on December 30, 2022.<\/p>\n<p>On average, Social Security benefits will increase by more than $140 per month.<\/p>\n<p>The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the <strong>Department of Labor\u2019s Bureau of Labor Statistics<\/strong>.<\/p>\n<p>The Administration announced other adjustments that take effect in January are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $160,200 from $147,000.<\/p>\n<p>Social Security and SSI beneficiaries are normally notified by mail starting in early December about their new benefit amount. People may also find out their information before then by creating or accessing an account online at <a href=\"http:\/\/www.ssa.gov\/myaccount\">www.ssa.gov\/myaccount<\/a>.<\/p>\n<p>U.S. Senate Aging Committee member Senator <strong>Kirsten Gillibrand<\/strong> issued a statement on the cost-of-living increase, saying, &#8220;Today\u2019s Social Security Administration announcement of an 8.7% increase in benefit checks, the largest increase since 1981, is fantastic news for more than 70 million Americans who are struggling with skyrocketing drug prices, prohibitive housing costs, and the rising cost of living.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Social Security benefits will increase 8.7% in 2023. The Social Security Administration announced that the 8.7% cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security beneficiaries in January 2023. Increased payments to more than 7 million SSI beneficiaries will begin on December 30, 2022. On average, Social Security benefits [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":47475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[4],"tags":[1367,4647,12304,4648,8476],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2022\/10\/Social-Security-feat.jpg?fit=1300%2C510&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p3YlJ4-clH","jetpack-related-posts":[{"id":20124,"url":"https:\/\/www.wrfalp.com\/aarp-members-urge-plumb-to-take-a-stand-to-protect-social-security-benefits\/","url_meta":{"origin":47473,"position":0},"title":"AARP Members Urge Plumb to &#8216;Take a Stand&#8217; to Protect Social Security Benefits","author":"WRFA Radio","date":"October 27, 2016","format":false,"excerpt":"CORNING - Candidate for Congress, U.S. Navy Captain John Plumb (D-Lakewood), has accepted nearly 1,000 petitions from AARP on behalf of their members. The petitions were signed by residents of New York\u2019s 23rd district, urging candidates to \u201cTake a Stand\u201d by committing to working toward updating Social Security for the\u2026","rel":"","context":"In &quot;Local News&quot;","block_context":{"text":"Local News","link":"https:\/\/www.wrfalp.com\/category\/news\/local-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2016\/02\/B9318002409Z.1_20150708001252_000_GSUB9N8SK.1-0.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":55090,"url":"https:\/\/www.wrfalp.com\/city-council-considering-raising-income-level-for-senior-citizen-tax-rebate-program\/","url_meta":{"origin":47473,"position":1},"title":"City Council Considering Raising Income Level For Senior Citizen Tax Rebate Program","author":"WRFA Radio","date":"October 18, 2023","format":false,"excerpt":"Jamestown City Council is looking at raising the income level for the senior citizen tax rebate program in the city. Council member at large Jeff Russell said residents who are age 65 or older who make less than $19,000 can currently receive an additional tax rebate in the city on\u2026","rel":"","context":"In &quot;Local News&quot;","block_context":{"text":"Local News","link":"https:\/\/www.wrfalp.com\/category\/news\/local-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.wrfalp.com\/wp-content\/uploads\/2023\/07\/Jeff-Russell.jpg?fit=502%2C495&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":50118,"url":"https:\/\/www.wrfalp.com\/nycom-not-on-board-with-hochuls-housing-compact\/","url_meta":{"origin":47473,"position":2},"title":"NYCOM Not On Board With Hochul&#8217;s Housing Compact","author":"WRFA Radio","date":"February 15, 2023","format":false,"excerpt":"The New York Conference of Mayors isn't on board with Governor\u00a0Hochul's\u00a0housing proposal in her state budget. 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