2001 Social Security Changes January 2001 Cost-of-Living Adjustment (COLA): Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 1999 through the third quarter of 2000, Social Security beneficiaries and Supplemental Security Income (SSI) recipients will receive a 3.5 percent COLA for 2001. Other important 2001 Social Security information is as follows: Tax Rate: 2000 2001 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 find peoples email social security number verification 6.20% on earnings up to the applicable maximum taxable amount (see below). The Medicare portion (HI) is 1.45% on all earnings. Maximum Earnings Taxable: 2000 2001 Social Security (OASDI only) $76,200 $80,400 Medicare (HI only) N o L i m i t 2000 2001 Quarter of Coverage: $780 $830 Retirement Earnings Test Exempt Amounts: As of January 2000, the Retirement Earnings Test has been eliminated for individuals age 65-69. It remains in effect for those ages 62 through 64. A modified test applies for the social security number verification social security number verification year an individual reaches age 65. (The Senior Citizens' Freedom To Work Act of 2000, signed into law by President Clinton on April 7, 2000.) 2000 2001 Year individual reaches 65 $17,000/ yr. ($1,417/ mo.) $25,000/ yr. ($2,084/ mo.) NOTE: Applies only to earnings for months prior to attaining age 65. One dollar in benefits will be withheld for every $3 in earnings above the limit. There is no limit on earnings beginning the month an individual attains age 65. Under age 65 $10,080/ yr. ($840/ mo.) $10,680/ yr. ($890/ free missing people search social security number verification mo.) NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit. Maximum Social Security Benefit: Worker Retiring at Age 65 in January of 2000 and 2001 $1,433/ mo. $1,536/ mo. SSI Federal Payment Standard: 2000 2001 Individual $512/mo. $530/mo. Couple $769/mo. $796/mo. SSI Resources Limits: 2000 2001 Individual $2,000 $2,000 Couple $3,000 $3,000 Estimated Average Monthly Social Security Benefits: Before and After the December 2000 COLA: Before 3.5% COLA After 3.5% COLA All Retired Workers $ 816 $ 845 Aged Couple, Both Receiving Benefits $1,363 $1,410 Widowed Mother and Two Children $1,639 $1,696 Aged Widow(er) Alone $ 783 $ 811 Disabled Worker, Spouse and One or More Children $1,266 $1,310 All information on volcanoes social security number verification Disabled Workers $ 759 $ 786
