Social Security – SSA Announces Cost of Living Increases for 2019

The Social Security Administration (SSA) has announced a 2.8 percent cost-of-living adjustment (COLA) for Social Security and Supplemental Security Income (SSI) benefits in 2019. The Social Security Act provides for annual COLA increases based on inflation as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Because the CPI-W rose modestly over the last year, the 2019 COLA will increase benefits modestly. According to SSA, the average monthly Social Security benefit for a retired worker will increase by $39, from $1,422 in 2018 to $1,461 in 2019. The average monthly benefit for a Social Security disabled worker beneficiary will increase by $34, from $1,222 in 2018 to $1,234 in 2019. In addition, the SSI Federal Payment Standard will increase from $750 per month in 2018 to $771 per month in 2019. Important work incentive thresholds for Social Security and SSI beneficiaries with disabilities will also increase, including the Substantial Gainful Activity level and the Trial Work Period earnings level. View SSA’s fact sheet for more details on the 2019 Social Security COLA.

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