Man About Canton: Social Security News

Did you know …

Social Security beneficiaries are getting a 2.8 percent cost-of-living adjustment (COLA), starting with their January 2019 benefits payment. The Social Security Administration (SSA) estimates that the average benefit paid to all retired workers will increase from $1,422 to $1,461 as a result. Last year, Social Security beneficiaries saw their monthly checks go up an average of $27, but the average Medicare Part B premium went up $25, from $109 to $134. According to the SSA, the average monthly Medicare Part B premium will increase from $134 to just $135.50, only a $1.50 increase.

The 2.8 percent COLA increase is the largest since 2012. In terms of dollars, it’s been estimated that beneficiaries will receive an average of $39 more in their monthly check, or $468 annually.

For 2019, the maximum taxable earnings will increase by $4,500, from $128,400 to $132,900. In other words, if you earn $150,000 in Social Security covered employment in 2019, $132,900 of those earnings will be subjected to Social Security tax while the other $17,000 will not be.

In order to qualify for Social Security benefits, you’ll need to earn 40 Social Security “quarters of coverage,” which are also known as Social Security credits.

For 2019, the most someone claiming Social Security at full retirement age can get is $2,861 per month. Of course, this could become even higher if workers entitled to the maximum decide to wait longer to claim. If they claim in 2019, a beneficiary’s full retirement age is still 66 years old (born in 1953) so if they were to wait until they turn 70 in 2023, their benefit would start at $3,776.52, plus any additional COLAs that are given between now and then.

CHS senior Devin Foster was listed by the Boston Herald as a member of the Division 2 basketball dream team.

The Boston Herald named Canton senior center Maggie Malloy to the 2018 Fall All-Scholastic field hockey team.

Brendan Albert, a CHS senior outside linebacker, was named to the Boston Herald 2018 Fall All-Scholastic football team.

Kyle Fitzgerald, a CHS junior, was named to the Boston Globe 2018 Fall All-Scholastic football team. Fitzgerald had 16 touchdowns while averaging 6.7 yards per carry.

The Boston Herald listed Canton High School No. 1 on its Division 2 “Super Eight” preseason boys hockey rankings. It also listed junior Johnny Hagan as a member of its Division 2 dream team.

If you noticed white angles painted on streets on Route 138 and streets just off Route 138, they are being used by the state for aerial photos for a project to improve Route 138.

The town of Stoughton recently opened its new $14 million public library at 84 Park Street. The new state-of-the-art facility includes an art gallery that can accommodate 200 people and a large conference room.

The state’s income tax fell from 5.1 percent to 5.05 percent on January 1. That small decrease will cost the state an estimated $175 million over the full fiscal year.

According to Banker & Tradesman, Anthony Will sold 30 North Street to Arthur Solmssen for $1,000,085.

The town of Canton has multiple tax rates where it is able to shift some of the tax burden from homeowners to owners of commercial and industrial properties.

Almost all towns on the south shore saw their property tax rate go down, but tax bills have increased thanks to the rising property values across this area.

The highest earners in Massachusetts live in Dover. According to the U.S. Census Bureau, the median household income is $204,018, which is more than twice the statewide median of $74,167. The national median household income is $57,652.

In a high-scoring competition, the annual powder puff game between the Canton and Stoughton senior girls ended with Stoughton winning 40-26.

Stoughton selectmen have unanimously chosen Robin Muksian, an assistant to the mayor of Cranston, Rhode Island and former director of administration in Providence, as the new town manager.

The estimated cost of a new Zamboni machine for the soon-to-be rebuilt Metropolis Rink is $150,000.

A goal is not always meant to be reached; it often serves as something to aim at. –Bruce Lee

That is all for now folks; see you next week.

Joe DeFelice can be reached at manaboutcanton@aol.com.

Short URL: https://www.thecantoncitizen.com/?p=48943

Posted by Joe DeFelice on Jan 12 2019. Filed under Featured Content, Man About Canton, Opinion. Both comments and pings are currently closed.