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Recent News and Upcoming Events:
Social Security Announces 2.3 Percent
Benefit Increase for 2008
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Monthly Social Security
and Supplemental Security Income benefits for
more than 54 million Americans will increase 2.3
percent in 2008, the Social Security
Administration announced today.
Social Security and
Supplemental Security Income benefits increase
automatically each year based on the rise in the
Bureau of Labor Statistics' Consumer Price
Index for Urban Wage Earners and Clerical
Workers (CPI-W), from the third quarter of
the prior year to the corresponding period of
the current year. This year's increase in the
CPI-W was 2.3 percent.
The 2.3 percent Cost-of-Living Adjustment (COLA)
will begin with benefits that nearly 50 million
Social Security beneficiaries receive in January
2008. Increased payments to more than 7 million
Supplemental Security Income beneficiaries will
begin on December 31.
Some other changes that
take effect in January of each year are based on
the increase in average wages. Based on that
increase, the maximum amount of earnings subject
to the Social Security tax (taxable maximum)
will increase to $102,000 from $97,500. Of the
estimated 164 million workers who will pay
Social Security taxes in 2008, nearly 12 million
will pay higher taxes as a result of the
increase in the taxable maximum.
Information about
Medicare changes for 2008 can be found at
www.cms.hhs.gov.
Click here for more
historical data
- Congratulations to Team Local 8 for participating in the 2007
Big Burger Challenge!!! The team raised $522 and plowed their
way thru a 15 pound burger!!! The money raised will benefit the
United Way of Centre County.
Team Local 8: Blaine Bloom, John Bloom, Rich Fetzer, Harry Lego,
Denver Light, Gage Light, Jon Light, Deb Montresor, Sam Neese,
and Scott Smith.
Click
here for pictures of the
event!!!
- Don't forget to keep your Teamsters Local 8
Beneficiary Information current. Call the Union office for update
cards or request a form online.
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