
SSA Announces 2021 COLA and Max Earnings
The SSA published its 2021 COLA increases and new ceiling for earnings subject to OASDI. What numbers are changing and are you affected?
The SSA published its 2021 COLA increases and new ceiling for earnings subject to OASDI. What numbers are changing and are you affected?
On August 8, 2020, President Trump issued an executive order offering payroll tax deferral until the end of 2020. Deferral would begin on September 1, 2020 and employers could pause collecting the 6.2% employee portion of the social security tax on an employee’s annual wages for 2020.
According to retirement professionals and researchers, the pandemic will affect Social Security benefits for those born in 1960, due to the complicated formula the Social Security Administration uses to calculate benefits.