[OSSSA218] 2011 Social Security COLA facts

[Karen PARK]

Good afternoon,

The Social Security Administration has released the 2011 COLA information. I've provided the links and pdf's to the Social Security News Release on the 2011 COLA and the Fact Sheet. 

There will be no COLA increase for Social Security Benefits this year. An explanation is given in the first link. 
http://www.socialsecurity.gov/pressoffice/pr/2011cola-pr.htm

The maximum taxable earnings remains at $106,800. You'll also note there has been no change in these areas:
Quarter of Coverage - Earnings needed to earn one Social Security credit
Retirement Earnings Test Exempt Amounts
Social Security Disability Thresholds
SSI Federal Payment Standard
SSI Student Exclusion
The only area to change is Primary Insurance Amount Bend Points (PIA). There has been a decrease to the PIA Bend Points. The Bend Points are used in calculating the Social Security Benefit. 

This information is available in the following link. 
http://www.socialsecurity.gov/pressoffice/factsheets/colafacts2011.htm

Have a great day!

Karen Park

Oregon State Social Security Coordinator
Oregon PERS
503 603-7633
karen.park at state.or.us

SL2

Please note my office hours are Monday thru Thursday 6 am to 4:30 pm


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