Social Security benefits to go up by 1.5 percent - KATV - Breaking News, Weather and Razorback Sports

Social Security benefits to go up by 1.5 percent

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Washington, D.C. -

Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 63 million Americans will increase 1.5% in 2014.

Social Security pays the average retired worker $1,272 a month. A 1.5% raise comes to about $19.  The cost-of-living adjustment (COLA) will begin in January, and the increase for SSI beneficiaries will begin on December 31, 2013.

The increase is among the smallest since automatic adjustments were adopted in 1975, and it is that way because consumer prices haven't gone up much in the past year.

 

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