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Social Security gives 1.5% benefit increase

Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 63 million Americans will increase 1.5%?in 2014, according to an announcement by the Social Security Administration.

The cost-of-living adjustment will begin with benefits that more than 57 million Social Security beneficiaries receive in January 2014.  Increased payments to more than 8 million SSI beneficiaries will begin Dec. 31.

Some other changes that take effect in January of each year are based on the increase in average wages, according to the administration.

Based on that increase, the maximum amount of earnings

Tuesday, November 05, 2013 2:51 PM

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