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The Senior Citizens League Warns 2014 Cost of Living Adjustment Flat
More than 62.6 million people who collect Social Security or benefits from other federal programs aren’t likely to see much growth in their payments next year. According to recent consumer price index (CPI) data through June, cost-of-living adjustments (COLAs) will stay pretty flat. Based on inflation growth over the past twelve months, the 2014 COLA will be in the vicinity of 1.7% — the same percentage of increase that seniors received this year. That would raise average monthly benefits of $1,157 by just $19.70. Read more.
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