1999 Social Security Changes Announced

Social Security Commissioner Kenneth S. Apfel announced today that Social Security and Supplemental Security Income (SSI) benefits will increase 1.3 percent in 1999 as a result of the annual cost-of-living adjustment (COLA). The increase will begin with benefits that Social Security beneficiaries receive for December 1998. Increased payments to SSI recipients will begin on December 31.

"Today's news confirms that inflation remains under control," Apfel said. "Low inflation is good for America, particularly for many Social Security beneficiaries living on fixed incomes."

For Social Security beneficiaries, the average monthly benefit amount for all retired workers will rise from $770 to $780. The maximum federal SSI monthly payments to an individual will rise from $494 to $500. For a couple, the maximum federal SSI payment will rise from $741 to $751.

Social Security and SSI benefits increase automatically each year based on the rise in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of one year through the corresponding period of the next. This year's increase in the CPI-W was 1.3 percent.

The automatic increase is equal to the December 1986 increase, the lowest since the automatic adjustment became effective in 1975.

NOTE TO CORRESPONDENTS: A fact sheet showing the effect of the various automatic adjustments is attached.

For more detailed information on the cost-of-living adjustment, how its computed and its history see the Office of the Actuary page.

Copies of most SSA press releases, as well as other Social Security information and statistics, are available at SSA's Internet site, Social Security Online, at http://www.ssa.gov/press/pressrel.htm.