Gray, Gray & Gray
   
Social Security Benefits to Increase
The Social Security Administration (SSA) has announced that Social Security and Supplemental Security Income (SSI) benefits will increase by 1.7 percent in 2015.
  
The rates for Old-Age, Survivors and Disability Insurance (OASDI) and Medicare Hospital Insurance (HI) taxes will remain at a combined 7.65 percent in 2015. Based on the increase in SSI benefits, the maximum taxable earnings for OASDI purposes will increase from $117,000 to $118,500.
  
In addition, the maximum possible Social Security payment for a worker who signs up at full retirement age will be $2,663 per month in 2015, up $21 from $2,642 in 2014.
  
If you have any questions about Social Security, please contact us
  
We go beyond the numbers by delivering insight, guidance and success to our clients.
  
Gray, Gray & Gray, LLP
781.407.0300
  
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