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Key Social Security Changes Set to Hit in January

The 2025 cost-of-living adjustment (COLA) announced last month is generally known at this point, but there are two additional key changes that folks need to keep in mind. For example, the annual limit on taxable earnings increases starting in January, going from $168,600 to $176,100, the result of changes in the national average wage index. Another key statistic changing for 2025 is the “earnings test” applied to wages earned by beneficiaries who have not reached their full retirement age (FRA). The factor increases from $22,320 in 2024 to $23,400 in 2025 for those who haven’t yet reached the year of their FRA, and there are different test limits for the year the worker reaches FRA.

For additional detail on these key changes, check out the article posted by The Motley Fool’s Adam Levy here.

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