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Social Security 2022 – The Year In Review - Yahoo

Every year, Social Security changes several factors which set limits which may affect your benefits. Generally, the changes happen automatically as a result of changes to the rate of inflation or the national Average Wage Index as measured by the federal government. The changes which occurred in 2022 were actually determined in the fall of 2021, just as the changes forthcoming in 2023 were determined in the fall of this year. So, what changes? Well, the most trumpeted is, of course, the Cost of Living Adjustment which was historically high for 2022, and will be even more generous in 2023 due to continued soaring inflation. But there are other factors as well, including earnings limits for those collecting early benefits, how much of your earnings you pay Social Security taxes on, and what the maximum monthly Social Security benefit can be. This Yahoo! article by John Csiszar explains the Social Security changes which occurred in 2022, and also reveals the changes forthcoming next year. Click here to read more.

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