January 4, 2017

Cost-of-Living Adjustment (COLA):

Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of
2014 through the third quarter of 2016, Social Security and Supplemental Security
Income (SSI) beneficiaries will receive a 0.3 percent COLA for 2017. Other important
2017 Social Security information is as follows:


                                                                     2016                          2017
o Tax Rate:
Employee 7.65% 7.65%
Self-Employed 15.30% 15.30%
NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The
Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum
amount (see below). The Medicare portion (HI) is 1.45% on all earnings. Also, as of January
2013, individuals with earned income of more than $200,000 ($250,000 for married couples
filing jointly) pay an additional 0.9 percent in Medicare taxes. The tax rates shown above do
not include the 0.9 percent.

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