Cost-of-Living Adjustment (COLA) 2017
Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 65 million Americans will increase 0.3 percent in 2017.
The 0.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 60 million Social Security beneficiaries in January 2017. Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2016.
Read more about the Social Security Cost-of-Living adjustment for 2017.
The maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $127,200.
The earnings limit for workers who are younger than "full" retirement age (age 66 for people born in 1943 through 1954) will increase to $16,920. (We deduct $1 from benefits for each $2 earned over $16,920.)
The earnings limit for people turning 66 in 2017 will increase to $44,880. (We deduct $1 from benefits for each $3 earned over $44,880 until the month the worker turns age 66.)
There is no limit on earnings for workers who are "full" retirement age or older for the entire year.
Read more about the COLA, tax, benefit and earning amounts for 2017.