Historical April 1990 report or notice. Original dates, prices and contacts describe the source period; current availability has not been established.
A 4.7 percent cost-of-living adjustment (COLA) will increase the amount of 1990 Social Security and supplemental security income (SSI) payments, according to the Social Security Administration.
The annual rate change raises the amount of the maximum Social Security retirement benefit for a person retiring this year at 65 to $975.
The average Social Security retirement benefit paid nationally is $566.
The full Federal SSI payment goes up this year to $386 for an individual and $579 for a couple.
In some States, a supplement raises the payment amount. Living arrangements and other income also affect SSI payment amounts. Other changes effective for 1990 involve the retirement earnings test—the amount of earnings a beneficiary can earn and still receive full Social Security benefits.
The figures for 1990 increase from $8,880 to $9,360 for people ages 65 to 69 and from $6,480 to $6,840 for people who are under 65.
After age 70, no limit is placed on earnings.
If earnings are over the retirement test limit, $1 out of each $2 in earnings over the limit is deducted from benefits for people under 65.
For people ages 65 through 69, the deduction rate is $1 out of each $3 in earnings over the limit. Questions about Social Security can be answered by calling Social Security.
The number is in the telephone directory.
Originally published in The Times of Skinker-DeBaliviere, April 1990.
Read this article in the original newspaper issue.
Original source: SD_Times1990_04.pdf, printed page(s) 7; PDF page(s) 7.
