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YOUR SOCIAL SECURITY | Davenport, Iowa Office

By Pam Shaw
Social Security District Manager
Davenport Social Security Office

HAPPY THANKGIVING FROM SOCIAL SECURITY

Thanksgiving is a time to reflect on our blessings and to share memories with our loved ones. During this holiday season and throughout life’s journey, we are here to help provide you and your family with services, benefits, and information about our programs.

Social Security is more than just a retirement program. We provide services that assist many families across this country. We are there for joyous moments like the birth of your child and issuing their first Social Security card. We are there during times of hardship and tragedy to provide disability and survivor benefits. And we’re there to help you celebrate your retirement, too.

We’re here to serve you online, by phone, and in person at a local Social Security office. You can learn more about our many services at www.ssa.gov.

SOCIAL SECURITY ANNOUNCES 2.5 PERCENT BENEFIT INCREASE FOR 2025

Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5 percent in 2025, the Social Security Administration announced today. On average, Social Security retirement benefits will increase by about $50 per month starting in January.

Over the last decade the COLA increase has averaged about 2.6 percent. The COLA was 3.2 percent in 2024.

Nearly 68 million Social Security beneficiaries will see a 2.5 percent cost-of-living adjustment (COLA) beginning in January 2025.  Increased payments to nearly 7.5 million people receiving SSI will begin on December 31, 2024.  (Note: Some people receive both Social Security benefits and SSI).   

“Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool,” said Martin O’Malley, Commissioner of Social Security.

Some other adjustments that take effect in January of each year are based on the increase in average wages.  Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $176,100 from $168,600.

Social Security begins notifying people about their new benefit amount by mail starting in early December.   

This year, for the first time, Social Security beneficiaries will receive a newly designed and improved COLA notice that makes it easier for customers to find the information they need most.  The simplified COLA notice is now only one page, uses plain and personalized language, and provides exact dates and dollar amounts of a person’s new benefit amount and any deductions.

Individuals who have a personal my Social Security account can view their COLA notice online, which is secure, easy, and faster than receiving a letter in the mail.  People can set up text or email alerts when there is a new message–such as their COLA notice–waiting for them in my Social Security. People will need to have a personal my Social Security account by Nov. 20 to see their COLA notice online. To get started, visit www.ssa.gov/myaccount.

Information about Medicare changes for 2025 will be available at www.medicare.gov.  For Social Security beneficiaries enrolled in Medicare, the 2025 benefit amount will be available via my Social Security’s Message Center starting in late November. Those who have not opted to receive messages online will receive their COLA notice by mail in December.

The Social Security Act provides for how the COLA is calculated.  The Social Security Act ties the annual COLA to the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as determined by the Department of Labor’s Bureau of Labor Statistics.

To read more, please visit www.ssa.gov/cola.

VETERANS AND ACTIVE-DUTY MILITARY MEMBERS: SOCIAL SECURITY HAS YOUR BACK!

Veterans Day is on Monday, November 11, 2024. We honor all veterans who served our country and risked their lives to protect us. If you know a veteran, please let them know about our Military and Veterans webpage at www.ssa.gov/people/veterans.

On that page, we have information about Social Security Disability Insurance (SSDI) benefits for veterans, including:

• How SSDI benefits are different from benefits available through the Department of Veterans Affairs and require a separate application.
• How we expedite the processing of Social Security disability claims for service members.
• Answers to questions asked about Social Security.

Some active-duty military service members are unable to work due to a disabling condition but continue to receive pay while in a hospital or on medical leave. They should consider applying for SSDI. Active-duty status and receipt of military pay doesn’t necessarily prevent payment of SSDI benefits.  Our Military and Veterans webpage is easy to share on social media and with your friends and family. Please consider passing this information along to someone who may need it.