2015 Social Security Disability Benefit Increase
By Sharon J. Meyers of Law Offices of Sharon J. Meyers posted in Social Security on Wednesday, October 22, 2014.
The Social Security Administration announced today that monthly Social Security Disability benefits will increase by 1.7% effective January 1, 2015. For example, if a disabled worker is currently receiving $1,000 per month in Social Security disability benefits, as of January 2015 that same disabled worker will begin receiving $1,017. Supplemental Security Income receipents whose current benefit is the maximum $721 per month will be receiving $733 per month as of January 2015.
Other changes that will take place effective on January 1, 2015 is the maximum amount of earnings subject to the Social Security tax will increase from $117,000 per year to $118,500 and the threshold for what is considered substantial gainful activity will increase from $1,070 per month to $1,090 per month.
Additional information regarding the 2015 cost of living adjustmentts (COLA) can be found at www.socialsecurity.gov. If you are someone you know might benefit from talking to an attorney about Social Security disability benefits, please contact www.sharonmeyerslaw.com.