Social Security Benefits to Increase in 2012

The purpose of the COLA is to ensure that the purchasing power of Social Security and SSI benefits is not eroded by inflation. It is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the last year a COLA was determined to the third quarter of the current year. There was no COLA in 2010 and 2011 because the CPI-W, as determined by the Bureau of Labor Statistics in the Department of Labor, for those years did not increase above the level of the third quarter of 2008, the last year a COLA was determined.

Some other changes 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) will increase to $110,100 from $106,800.

For More Information

A fact sheet is available showing the effect of the various automatic adjustments. You can also review additional information regarding how the COLA is calculated.

Morgan Parker

15:58 09 Jan 19

Working with BBG has always been a great pleasure. The customer service that we receive is ALWAYS top notch; knowing that you will always receive a response from someone is very important and we know that BBG will give us that. We have been a customer of BBG for many years, and have absolutely no complaints. Everyone that works at BBG is so nice and goes above and beyond, which is appreciated more than they know. Keep up the GREAT work!!

Allison Woodruff

12:34 09 May 19

Outstanding, prompt and friendly service. Would recommend BBG for any size group!

Holly Palmer

15:25 08 Feb 19

I've worked with BBG for 7 years and was responsible for introducing BBG at my new company. The service everyone at BBG provides is unparalleled- and they do it with a smile on their faces. BBG is more than an insurance broker. They are a full service firm that doesn't just sign companies up for benefit coverages, they act as a strategic advisor to determine what solutions fit best for each company's situation and demographic. This year, with BBG's insightful advice and patient guidance, we were able to save a significant amount of money at benefit renewal time while actually improving our offerings from the prior year. It was a win for our company and a win for our people. As an HR department of one, I take advantage of the HR advice provided by BBG as well. There are not enough adjectives to say how great it is to work with BBG.

John Farrell

16:04 08 Feb 19

The Business Benefits Group is top notch. I've worked with numerous benefits brokers over the years and they are second to none. Their personalized service has provided outstanding cost savings for my organization while also providing rich benefits to my employees. I truly appreciate their dedication and expertise. John A. Farrell III, HR Director, SHRM-SCP

Jason Thornhill

14:08 09 Jan 19

BBG has been pivotal in the dissemination of health benefits for Fonteva employees. They have remained consistent regardless of the level of stress involved in any situations. The aforementioned has been particularly appreciated during our Open Enrollment process. Derek Winn, the Senior Benefits Consultant, is exceptional!

Valentia Royal

20:16 16 Aug 18

As an HR Professional, I have had an opportunity to work with several benefits brokers and BBG is by far a stand out. The level of support, guidance, and assistance they provide as a broker is above and beyond. Everyone at BBG is knowledgeable and their willingness to make themselves available to not only our company, but our employees is unmatched. They have become an extension of our organizational family. In an industry that is ever changing, BBG is consistent in their level of service. Regular assessments of the industry and the market to bring its business partners the best tools, strategies, resources, and expertise, are just a few of the "benefits" of BBG.

Bree Acampora

15:07 03 Aug 18

Working with BBG has been a game changer for our company. From managing our annual benefit renewals to the day to day customer service they provide for our team and members, every individual we interact with is extremely knowledgeable and provides excellent customer service. The depth of resources BBG provides is second to none. We have an incredible rep who responds to our questions and concerns day or night and the technology platforms they have on offer have allowed us to streamline our HR functions to save us time and money. I could write a novel about all of the wonderful people, services and products BBG offers. They have become an integral part of our HR/Benefit strategy and an extension of our own "family oriented culture" as a company who puts this kind of service acumen and care at its forefront. Thank you BBG and here's to many more years of partnership.

For More Information

Sign Up for Our Newsletter