The Social Security Administration (SSA) announced it will increase the default overpayment withholding rate for Social Security beneficiaries to 100 percent of a person’s monthly benefit. As of March 27, the agency will begin mailing notices about the new 100 percent withholding rate, rather than the recent adjustment of just 10 percent. The withholding rate change applies to new overpayments related to Social Security benefits. The withholding rate for current beneficiaries with an overpayment before March 27 will not change and no action is required. The withholding rate for Supplemental Security Income overpayments remains 10 percent.
Comments