- Monthly benefits will increase by 1.6%
- Maximum monthly benefit will rise to $3,011 per month (currently $2,861 per month)
- Annual social security tax cap (the maximum amount of earnings subject to social security tax) will rise to $137,700 (currently $132,900)
- Earnings limit on retirees receiving social security before full retirement will rise to $18, 240, after which the deductions of $1 for every $2 earned will go into effect
- Earnings limit on retirees receiving social security after full retirement will rise to $48,600, after which the deductions of $1 for every $3 earned will go into effect
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