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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