Tip of the Week: Social Security Changes (11/16/98)

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	Social Security Changes Financial Tip of the Week by Deloitte & Touche OnLine November 16, 1998

Cost of livings increases and more.

Here's updated information on Social Security:

Cost of living increase for 1999 is 1.3%, starting in January.
The maximum monthly benefit will be $1,373, for a worker retiring at age 65 in January 1999. The maximum for a worker retiring at age 62 in January 1999 is $1,191.
The FICA tax rate is 7.65% -- 6.2% for Social Security and 1.45% for Medicare.