On December 20, 2023, Congress appointed Mr. Martin O’Malley ( https://blog.ssa.gov/martin-j-omalley-sworn-in-as-commissioner-of-social-security-administration/ )as their new permanent commissioner. He is focused currently on reducing long wait times for both in-office and phone inquiries. He will also be addressing the administration’s 25-year low staffing challenges, promoting transparency in operations, and the creation of a common operational platform.
It’s that time of year again when the SSA COLA is administered along with all other earnings limits and adjustments for entitlement thresholds. Please see Social Security Changes – COLA Fact Sheet (https://ssa.gov/) for details.
This is also a good time to evaluate Federal tax withholding from your benefit or reevaluate the amount already being withheld. You can have your benefit withholding updated by completing and submitting this form: https://www.irs.gov/pub/irs-pdf/fw4v.pdf . SSA does not withhold state taxes. SSA employees are not trained in tax law and cannot help you pick a withholding rate, see your tax specialist for what’s best for you.
The general enrollment period for Medicare began January 1st and continues through March 31st.
Coverage begins the month after the month of the received enrollment request. If material, SSA will use the postmark on the envelop received as your filing date. Medicare enrollment form:
https://www.cms.gov/medicare/cms-forms/cms-forms/downloads/cms40b-e.pdf
If you receive retirement benefits and are working above the 2024 earnings limits, now is the time to contact SSA with your estimated wages for the year. This will help ensure your benefits are adjusted accordingly during the year to avoid any incorrect payments.
Maryellen Eckert
EDPNA
