2012 Cost-of-Living Adjustment Announced

The Social Security Administration has announced that monthly Social Security and Supplemental Security Income (SSI) benefits will increase 3.6 percent in 2012. This is the first cost-of-living adjustment (COLA) in these programs since 2009. Increased payments to Social Security beneficiaries will begin January 2012; increased payments to SSI beneficiaries will begin on December 30, 2011. For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums. Additionally, the Substantial Gainful Activity (SGA) levels for non-blind Social Security and SSI beneficiaries who work will increase from $1,000 to $1,010 per month. A Social Security fact sheet provides more details on the COLA increase.