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YOUR SOCIAL SECURITY | Davenport, Iowa Office

By Pam Shaw
Social Security District Manager
Davenport Social Security Office

SOCIAL SECURITY BENEFITS INCREASE IN 2023

Approximately 70 million Americans will see an 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, Social Security benefits will increase by more than $140 per month starting in January.

Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W). The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are higher. The cost-of-living adjustment (COLA) helps to offset these costs.

We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. But if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your personal my Social Security account. You can access this information in early December, prior to receiving the mailed notice. Benefit amounts will not be available before December. Since you will receive the COLA notice online or in the mail, you don’t need to contact us to get your new benefit amount.

If you prefer to access your COLA notice online and not receive the mailed notice, you can log in to your personal my Social Security account to opt out by changing your Preferences in the Message Center. You can update your preferences to opt out of the mailed COLA notice, and any other notices that are available online. Did you know you can receive a text or email alert when there is a new message waiting for you? That way, you always know when we have something important for you – like your COLA notice. If you don’t have an account yet, you must create one by November 15, 2022 to receive the 2023 COLA notice online.

“Medicare premiums are going down and Social Security benefits are going up in 2023, which will give seniors more peace of mind and breathing room. This year’s substantial Social Security cost-of-living adjustment is the first time in over a decade that Medicare premiums are not rising and shows that we can provide more support to older Americans who count on the benefits they have earned,” Acting Commissioner Kilolo Kijakazi said.

January 2023 marks when other changes will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax in 2023 will be higher. The retirement earnings test exempt amount will also change in 2023.

Be among the first to know! Sign up for or log in to your personal my Social Security account today. Choose email or text under “Message Center Preferences” to receive courtesy notifications.   

You can find more information about the 2023 COLA here.

UNDERSTANDING SOCIAL SECURITY BENEFITS

We are here for surviving family members when a worker dies.  In the event of your death, certain members of your family may be eligible for survivors benefits. This includes surviving spouses, surviving divorced spouses, children, and dependent parents.

The amount of benefits your survivors receive depends on your lifetime earnings. The higher your earnings, the higher their benefits. That’s why it’s important to make sure your earnings history is correct in our records. You can do this by creating a personal my Social Security account at www.ssa.gov/myaccount. A personal my Social Security account is secure and gives you immediate access to your earnings records, benefit estimates, and Social Security Statement.

You may also want to visit our Survivors Benefits page at www.ssa.gov/benefits/survivors. This page can help you understand your and your family’s Social Security protections as you plan your financial future.

Please visit www.ssa.gov or read our publication, Survivors Benefits, at www.ssa.gov/pubs/EN-05-10084.pdf for more information. You can also help us spread the word by sharing this information with your family and friends.

ATTORNEY FEE CAP INCREASE

Social Security Administration Acting Commissioner Kilolo Kijakazi announced a change to the Attorney Fee Cap — the first in 13 years.  The maximum dollar amount limit for fee agreements approved under the Social Security Act increased from $6,000 to $7,200.

Effective November 30, 2022, we may approve fee agreements up to the new dollar limit, provided that the agreements otherwise meet the statutory requirements.

If a fee agreement is not filed, a representative can submit a fee petition after completing work on your claim(s).  We’ll review the value of your representative’s services—and let you know the fee your representative is authorized to charge and collect.

For more information, please read our publication, Your Right to Representation, at www.ssa.gov/pubs/EN-05-10075.pdf.