--- title: "UPDATED: Cost of Living Adjustment" description: Last Friday, Social Security announced the Cost of Living Adjustment (COLA) for benefits payable in 2018. image: https://www.covisum.com/hubfs/2018%20SSA%20COLA%20Update.png --- [Login](https://www.covisum.com/login-experience) | [Call: 402-235-4500](tel:1-402-235-4500) | [Contact Us](https://www.covisum.com/contact) ** [![covisum-logo](https://www.covisum.com/hs-fs/hubfs/covisum-logo.png?width=264&height=41&name=covisum-logo.png "covisum-logo")](https://www.covisum.com/) [![Start Your Free Trial](https://no-cache.hubspot.com/cta/default/2755909/b23743cd-d0df-4907-a66d-293b58ab1164.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/b23743cd-d0df-4907-a66d-293b58ab1164) [![Contact Us](https://no-cache.hubspot.com/cta/default/2755909/6c6d7fe7-e094-4fc0-9c82-d93d4ccbb532.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/6c6d7fe7-e094-4fc0-9c82-d93d4ccbb532) # UPDATED: Cost of Living Adjustment [SOCIAL SECURITY  |  ](https://www.covisum.com/blog/topic/social-security)10/16/17 1:07 PM  |  by [Katie Godbout, Vice President of Sales & Marketing](https://www.covisum.com/blog/author/katie-godbout-vice-president-of-sales-marketing) ![2018 SSA COLA Update.png](https://www.covisum.com/hs-fs/hubfs/2018%20SSA%20COLA%20Update.png?width=825&height=122&name=2018%20SSA%20COLA%20Update.png) Last Friday, Social Security announced the Cost of Living Adjustment (COLA) for benefits payable in 2018. [Check out the fact sheet.](https://www.ssa.gov/news/press/factsheets/colafacts2018.pdf) Next year’s COLA will be 2%. Also released at the same time, is the new amount of maximum taxable earnings. For 2018, that figure is $128,700, up from $127,200. The new maximum taxable earnings means the most a high wage earner can pay in the Social Security portion of FICA is $7,979.40, and double that for self-employed people. The earnings test exempt amounts have also increased to $17,040 per year for those under full retirement age and to $45,360 for the calendar year a beneficiary attains full retirement age.  All of these figures will be updated for reports run January 1, 2018 and after.  [![Subscribe to Social Security Timing](https://no-cache.hubspot.com/cta/default/2755909/8d363a3c-377b-46c5-a7e5-b7df5375b203.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/8d363a3c-377b-46c5-a7e5-b7df5375b203) ### Share this article [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fupdated-cost-of-living-adjustment%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fupdated-cost-of-living-adjustment%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fupdated-cost-of-living-adjustment%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fupdated-cost-of-living-adjustment%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=UPDATED%3A%20Cost%20of%20Living%20Adjustment) ## Related Blog Articles [ ### In The News Retirees Should Talk To Their Advisor Before Taking Out An Auto Loan Read ](https://www.covisum.com/blog/forbes-retirees-should-talk-to-their-advisor-before-taking-out-an-auto-loan) [ ### In The News CNBC: Your Social Security Check Could Be 2.8 Percent Bigger Next Year Read ](https://www.covisum.com/blog/your-social-security-check-could-be-2.8-percent-bigger-next-year) [ ### Practice Management Why Systematic Value Delivery is Crucial for Financial Advisors Read ](https://www.covisum.com/blog/why-systematic-value-delivery-is-crucial-for-financial-advisors) [See All Articles](https://www.covisum.com/blog) ## Covisum’s ecosystem of solutions can help you grow. 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