Monday, October 14, 2013

Social Security Increase

It is expected that Social Security recipients will receive a 1.5% increase in their monthly benefits next year.  That includes people who receive retirement and disability benefits.  

Since 1975, the annual automatic cost of living adjustment ("COLA") has averaged 4.1%.  The purpose of the COLA is to help people on fixed incomes keep up with inflationary prices increases. 

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