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Key Social Security Changes in 2022–Some Affecting SSA Funding
Everyone on Social Security is aware of at least one change in Social Security benefits–the 5.9% COLA that hit on January 1. Of course, there are other routine changes in program factors, like an increased earnings limit, an increase in the payroll cap for FICA, etc., but there’s also a major adjustment in the wind (actually, it’s in President Biden’s proposed 2023 budget) that could bring long-sought financial relief for a beleaguered Social Security Administration operations. Yahoo’s Andrew Lisa offers a recap of thee and other aspects of what’s happening financially in Social Security operations this year…check it out here…