2017 Social Security changes

A -.3 percent cost-of-living adjustment (COLA) is effective beginning January 1, 2017.  The average monthly Social Security benefit is $1,360 (vs $1,355 in 2016) for a retired worker. The average monthly benefit is $1,171(vs $1,167 in 2016) for a disabled worker.

Social security tax applies on wage and salary income up to $127,200. Workers receive a work credit for $1,260 of wage and salary income each quarter. They may earn four work credits each calendar year.

These changes are included in the 2017 fact sheet at:

http://www.ssa.gov/news/cola