Social Security benefits up only 1.5% in ’14
Social Security benefits will rise only 1.5% next year, one of the smallest increases ever in the program’s annual cost-of-living adjustment. The increase is down from the 1.7% increase for 2013. There was no cost-of-living increase at all in 2010 and 2011 because prices fell in the wake of the recession. A 3.6% adjustment in 2012 has been the only significant rise in benefits in recent years. The latest adjustment will add about $19 to monthly checks, taking the average benefit to $1,294…Read More
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