Yesterday, the Social Security Administration issued a press release with updates for 2022 including updating their fact sheet.
The updates include:
The updates include:
- The Social Security Wage Base is increasing from $142,800 in 2021 to $147,000 in 2022.
- The cost-of-living adjustment (COLA) is 5.9% for 2022, this is the largest increase in forty years.
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