In just one day, millions of Americans will get the first Social Security check with the new COLA increase of 5.9%.
The people getting a check tomorrow have birthdays that land between the 1st and 10th of the month.
70 million Americans will be impacted.
This is the largest COLA increase in almost 40 years.
5 things to know before benefits go out
Social Security 2022
The SSA sent notices to recipients in Dec. detailing the changes in their own individual benefits.
The amount a person receives is based on their working years and how much money they made.
Anyone with a birthday between the 1st and 10th can expect a check tomorrow, Jan. 12.
Social Security: 2022 payments are rising
If a person’s birthday is between the 11th and 20th, they’ll see a check on Jan. 19.
Birthdays landing between the 21st and last day of the month will get a check Jan. 26.
Every second, third, and fourth Wednesday of each month, checks are sent.
The checks are going up an average of $92 per month, but that of course varies for individuals.
Social Security: Who gets an extra $200 per month?
Couples can expect an average increase of $154 per month.
Social Security taxed the first $142,800 of someone’s income in 2021. In 2022 that will be $147,000.
Those collecting SSDI can expect an average increase of $76.
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