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C Pinehurst Final 1 JAN 19

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Page<br />

Seven<br />

6<br />

Lakes News December<br />

January<br />

Edition<br />

Edition <strong>Pinehurst</strong> Town<br />

Page<br />

Crier<br />

9<br />

HEATING SERVICE<br />

AIR CONDITIONING<br />

RESIDENTIAL<br />

COMMERCIAL<br />

Merry Christmas!<br />

24 Hour<br />

Emergency<br />

Service<br />

Happy Holidays<br />

To All Of Our<br />

<strong>Pinehurst</strong> Customers<br />

Seven Lakes<br />

910-673-6030<br />

Owned By: Matt & Sharon Bialer<br />

We Are Proud To Provide Reliable and Professional<br />

4379 Hwy 211<br />

Located Across The Street From Food Lion<br />

"Thanks To All Of Our Patients For Making Service 2018 Such a To Great <strong>Pinehurst</strong> Year" and Moore County Residents<br />

We File<br />

Dental<br />

Insurance<br />

www.SevenLakesDentist.com<br />

YourTempControl.com<br />

TempControl@nc.rr.com<br />

(910) 400-5613<br />

NC Mechanics License # 29204 NC Electrical License # 24522-L<br />

Here are the changes set to take<br />

effect Jan. 1, 20<strong>19</strong>, according to<br />

the SSA’s annual fact sheet. Increased<br />

payments actually begin<br />

Dec. 31, 2018.<br />

Benefi ciaries will see a 2.8% increase<br />

in payments.<br />

For 20<strong>19</strong>, more than 67 million Social<br />

Security benefi ciaries will see<br />

a 2.8% cost-of-living adjustment<br />

(COLA). This increase is meant to<br />

counteract the effect of infl ation.<br />

This calculation ensures that your<br />

Social Security check has the<br />

same buying power that it did the<br />

previous year.<br />

The 2.8% bump in 20<strong>19</strong> represents<br />

a 0.8% increase over last year’s<br />

2% COLA and the largest increase<br />

since 2012 when benefi ts went up<br />

3.6%.<br />

For the average Social Security recipient,<br />

however, this 2.8% raise will<br />

amount to just $39 per month, as<br />

the average monthly payout increases<br />

from $1,422 in 2018 to $1,461<br />

in 20<strong>19</strong>.<br />

Maximum taxable earnings will increase<br />

to $132,900.<br />

In 2018, employees were required to<br />

pay a 6.2% Social Security tax(with<br />

their employer matching that payment)<br />

on income up to $128,400.<br />

Any earnings above that amount<br />

were not subject to the tax. In 20<strong>19</strong>,<br />

the tax rate will remain the same at<br />

6.2%, but the tax cap will increase<br />

to $132,900.<br />

Full retirement age will continue to<br />

increase.<br />

The absolute earliest you can start<br />

claiming Social Security retirement<br />

benefi ts is 62. However, claiming before<br />

your full (or normal) retirement<br />

age will result in the payout being<br />

permanently reduced. For those who<br />

turn 62 in 2018, full retirement age<br />

is 66 and four months. But for those<br />

who turn 62 in 20<strong>19</strong>, the full retirement<br />

age will increase to 66 and six<br />

months. Full retirement age is set to<br />

increase by two months each year<br />

until it hits 67.<br />

Earnings limits will increase.<br />

If you work while collecting Social Security<br />

benefi ts you may fi nd all or part<br />

of your benefi ts temporarily withheld,<br />

depending on how much you earn.<br />

However, those income limits will increase<br />

slightly in 20<strong>19</strong>.<br />

Prior to reaching full retirement<br />

age, you will be able to earn up to<br />

$17,640 in 20<strong>19</strong>. After that, $1 will<br />

be deducted from your payment for<br />

every $2 that exceeds the limit. The<br />

20<strong>19</strong> annual limit marks a $600 increase<br />

over 2018’s limit of $17,040.<br />

f you reach full retirement age<br />

in 20<strong>19</strong>, you will be able to earn<br />

$46,920, up $1,560 from 2018’s<br />

$45,360 annual limit. For every $3<br />

earned over the 20<strong>19</strong> limit, your Social<br />

Security benefi ts will be reduced<br />

by $1, but it will only apply to money<br />

earned in the months prior to hitting<br />

full retirement age.<br />

Once you hit full retirement age, no<br />

benefi ts will be withheld if you continue<br />

working. Social Security disability<br />

thresholds will increase.<br />

About 10 million Americans qualify<br />

for Social Security disability payments,<br />

and those thresholds are also<br />

increasing slightly in 20<strong>19</strong>. For the<br />

non-blind, the maximum benefi t will<br />

increase $40 a month to $1,220.<br />

Social Security recipients will be<br />

able to view their COLA notice online<br />

through their<br />

mySocialSecurityaccount<br />

As always it’s a good idea to be aware<br />

of additional changes that could be<br />

announced in the coming months.<br />

Edited By: Brittany Samuels SLN

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