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Some Changes in Store for Social Security Come January

While no changes in law have occurred or will likely take place in 2022, some changes to Social Security occur automatically each January 1st. Trevor Jennewine explains the upcoming cost of living adjustment (COLA), likely to be the largest in 40 years. He explains its calculation. Also coming is a new earnings limit for those who receive Social Security benefits and work and are below full retirement age (now 67). In 2022, individuals under 67 for the entire year can earn up to $19,560 before reductions occur. That will go up, though it’s not yet know to what figure. Full piece here.

The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.

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