Differences

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--- social_security [2025/12/11 02:06] – jhagstrand
+++ social_security [2026/01/05 13:06] (current) – [COLA] jhagstrand
@@ Line 54: / Line 54: @@
 Branded mySocialSecurity.\\
 For contact and login info, see [[SSA]] in the address book.
+Things you can do on the website:
+  * See the amount you receive and the next payment date.
+  * Use the secure message portal to read statements and messages.
+  * In December, read you COLA letter to see the calculation of next year's benefit amount.
+  * In late December or early January, download the "initial" 1099  document
+  * Review the deduction amounts for Medicare.
+==== COLA ====
+Cost of Living Adjustment (COLA)
+The percentage increase in benefits is calculated and published in December each year.
+In Dec 2025, the amount was 2.8%.
+You receive a COLA letter each December which informs you of your future payment amount, after the COLA percentage increase has been applied.
+==== SSA-1099 ====
+After your December payment as been made to you, usually December 3, they calculate and print your SSA-1099 document and put it in the mail.  This is also sent to your secure message portal on the SSA website, described as the "initial" 1099.  Normally you can download this document and use it with your 1040 tax return.
+It is described as "initial" because there are rare circumstances where a person could incur charges or payments in the later part of December after this first printing, and this would require a "correction".
 ==== Statistics ====
@@ Line 102: / Line 124: @@
 Wage and salary earnings from covered employment, up to an amount determined by law (see tax rate table), are subject to the Social Security payroll tax. Wage and salary earnings above this amount are not taxed. In 2026, the maximum amount of taxable earnings is $184,500.[10]
+"pay as you go"