Social Security and SSI checks to go up

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Tara Bremer wrote: FYI From: Torano, Francisco Sent: Friday, October 17, 2008 11:55 AM To: Dunphy, Doris; andria ; Keating; Angie Hoffman; Anne.Wissner; Aramando -Aballi; Becki Forsell; ; C Yeardley; Carol Michel; Chip ; Rover; S; Chuck Porter; Connie Hayden-McPeak; Darian ; Higgins; Debbie Baker; Don Hendricks; Evon Fales; Faye Bullock; Felicia ; Barthalow; J Humburg; JB Black; Joan Andrade; Joe Didominico; ph Mahoney; Judy Turnbaugh; Brown; Leonard Plotkin; Hall; Liz Mueller; Pierce; Melinda Coulter;

Melinda Wheatley; Tremblay; Miele; Mashberg; Pamela Russo; pat.chuck@...; Raquel Peverini; Rhonda; Ross Silvers; Roush, R; Ruthie Reyes; Sandy Srokas; Sharon Brent; Sharon ; Shefali.Bakshi; smkroh@...; Lang; Oldenburg; -; Virginia Padgett; Wanda Wiklinson; Wessels, Bob Subject: FYI I just received this information. Hope you all are doing great. Have a nice week end. The 2009 cost-of-living adjustment for Social Security and SSI beneficiaries will be 5.8 percent. This adjustment is based on the increase in the Bureau of Labor Statistics' Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), from the third quarter of the prior year to the corresponding period of the current year. As you know, inflation is one of the biggest challenges for people living on a fixed income. The annual COLA ensures the buying power of our beneficiaries remains strong. The increase will be effective with December Social Security benefits received in January 2009. SSI recipients will see the increase in payments received on December 31, 2008. SOCIAL SECURITY News Release Social Security Announces 5.8 Percent Benefit Increase for

2009 Monthly Social Security and Supplemental Security Income benefits for more than 55 million Americans will increase 5.8 percent in 2009, the Social Security Administration announced today. The 5.8 percent increase is the largest since 1982. Social Security and Supplemental Security Income benefits increase automatically each year based on the rise in the Bureau of Labor Statistics' Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), from the third quarter of the prior year to the corresponding period of the current year. This year's

increase in the CPI-W was 5.8 percent. The 5.8 percent Cost-of-Living Adjustment (COLA) will begin with benefits that over 50 million Social Security beneficiaries receive in January 2009. Increased payments to more than 7 million Supplemental Security Income beneficiaries will begin on December 31. Some other changes that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $106,800 from $102,000. Of the estimated 164 million workers who will pay Social Security taxes in 2009, about 11 million will pay higher taxes as a result of the increase in the taxable maximum. Information about Medicare changes for 2009 can be found at www.medicare.govhttp://www.cms.hhs.gov/. Note: Copies of most SSA press releases, as well as other Social Security information and statistics, are available at SSA's Internet site, Social Security Online, at http://www.socialsecurity.gov. SSA Press Office 440 Altmeyer Bldg. 6401 Security Blvd. Baltimore, MD 21235 FAX Toraño Area Work Incentives

Coordinator South Florida Area Social Security Administration 3415 E Frontage Road, Suite A Tampa, FL 33607 Ph: ext 3061 Fax: mailto:Francisco.Torano@... __________________________________________________