Learn how May's Social Security changes could affect your benefits, SSI payments, and eligibility requirements.
The article from Finger Lakes 1, published on May 8, 2025, discusses several key updates and changes to Social Security for May 2025. It highlights the annual cost-of-living adjustment (COLA) set at 2.3% for the year, which aims to help beneficiaries keep up with inflation. Additionally, the article mentions an increase in the maximum earnings subject to Social Security tax, now set at $170,000, up from the previous year. It also covers changes in the retirement earnings test exempt amounts, allowing beneficiaries who are still working to earn more before their benefits are reduced. Lastly, the piece provides information on upcoming adjustments to Medicare Part B premiums and the importance of reviewing one's Social Security benefits statement to ensure accuracy and plan for retirement.
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Thu, May 8, 2025
