It's Official — These 5 Social Security Changes Are Coming for 2019

Recently announced Social Security changes linked to rising prices include plans to grant beneficiaries a 2.8 percent cost-of-living adjustment (COLA) for 2019, reports the Motley Fool . The SSA estimates that the average benefit paid to all retired workers will consequently climb from $1,422 to $1,461. Meanwhile, Social Security's maximum taxable earnings for workers will increase by $4,500 for 2019. The maximum Social Security tax an employee could pay will shift from $7,960.80 in 2018 to $8,239.80. More income will be required to earn a Social Security credit. For 2019, one credit translates to $1,360 in earnings, a $40 boost from 2018. Beneficiaries who claimed Social Security early and are still employed will be able to earn more without a benefit reduction in 2019, while the maximum possible Social Security benefit also is climbing for high earners. For next year, the most someone claiming Social Security at full retirement age can receive is $2,861 monthly, which could become even higher if workers entitled to the maximum decide to wait longer to claim. If they claim in 2019, a beneficiary's full retirement age is still 66, which means if they were to wait until they turn 70 in 2023, their benefit would begin at $3,776.52 plus any additional COLAs that are given between now and then.