[{"data":1,"prerenderedAt":103},["ShallowReactive",2],{"term:social-security":3},{"term":4,"related":90},{"id":5,"title":6,"body":7,"category":72,"description":73,"extension":74,"faq":75,"meta":76,"navigation":77,"path":78,"related":79,"seo":83,"stem":84,"takeaways":85,"__hash__":89},"terms\u002Fterms\u002Fsocial-security.md","Social Security",{"type":8,"value":9,"toc":65},"minimark",[10,15,19,22,26,34,41,45],[11,12,14],"h2",{"id":13},"understanding-social-security","Understanding Social Security",[16,17,18],"p",{},"Workers earn credits by paying Social Security taxes. Retirement benefits can start at 62, but are reduced if claimed before full retirement age, which is 67 for people born in 1960 or later.",[16,20,21],{},"Delaying beyond full retirement age increases benefits by 8% a year until age 70. Benefits are adjusted each year for inflation.",[11,23,25],{"id":24},"in-2026","In 2026",[16,27,28,29,33],{},"Benefits rose ",[30,31,32],"strong",{},"2.8%"," in January 2026 with the annual cost-of-living adjustment (COLA), after 2.5% in 2025. The COLA is tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).",[16,35,36,37,40],{},"Workers pay a 6.2% Social Security tax on earnings, matched by their employer, up to a wage cap. For 2026 the cap is ",[30,38,39],{},"$184,500",", up from $176,100. The separate Medicare tax has no wage cap.",[11,42,44],{"id":43},"sources","Sources",[46,47,48,58],"ul",{},[49,50,51],"li",{},[52,53,57],"a",{"href":54,"rel":55},"https:\u002F\u002Fwww.ssa.gov\u002Fblog\u002Fen\u002Fposts\u002F2025-10-24.html",[56],"nofollow","SSA: 2.8% benefit increase for 2026",[49,59,60],{},[52,61,64],{"href":62,"rel":63},"https:\u002F\u002Fwww.journalofaccountancy.com\u002Fnews\u002F2025\u002Foct\u002Fsocial-security-wage-base-and-cola-announced-for-2026\u002F",[56],"Journal of Accountancy: 2026 wage base and COLA",{"title":66,"searchDepth":67,"depth":67,"links":68},"",2,[69,70,71],{"id":13,"depth":67,"text":14},{"id":24,"depth":67,"text":25},{"id":43,"depth":67,"text":44},"retirement","The U.S. government program that pays retirement, disability, and survivor benefits funded by payroll taxes.","md",[],{},true,"\u002Fterms\u002Fsocial-security",[80,81,82],"annuity","four-percent-rule","inflation",{"title":6,"description":73},"terms\u002Fsocial-security",[86,87,88],"Social Security pays benefits funded by payroll taxes.","Claiming early reduces benefits permanently.","Waiting until 70 gives the largest monthly benefit.","fHEQlwlTIwPnVwPbRxdEO0_tOYc1S8PF1cS2NfZxz0I",[91,95,99],{"title":92,"description":93,"path":94},"Annuity","An insurance contract that turns a lump sum or payments into a stream of income.","\u002Fterms\u002Fannuity",{"title":96,"description":97,"path":98},"4% Rule","A guideline that withdrawing 4% of savings in the first year of retirement, then adjusting for inflation, has historically lasted about 30 years.","\u002Fterms\u002Ffour-percent-rule",{"title":100,"description":101,"path":102},"Inflation","The rate at which the general level of prices rises, eroding purchasing power.","\u002Fterms\u002Finflation",1793374005943]