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    Is s s getting a raise in 2014

    0  Views: 912 Answers: 1 Posted: 7 years ago

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    Here are a couple of thoughts on the subject:


    Social Security up 1.5 percent in 2014?
    By Jennie L. Phipps · Bankrate.com
    Monday, August 26, 2013
    Posted: 5 pm ET


     Plug this into your retirement planning budget for 2014: The Congressional Budget Office has estimated that the cost of living adjustment, or COLA, for 2014 will be 1.5 percent, slightly less than 2013's 1.7 percent. The official announcement will be made in the middle of October.


    The COLA not only affects Social Security, it also sets the annual increases for federal retirees; Supplemental Security Income, known as SSI; military retirement, and veterans' pension benefits. Plus, eligibility for Medicare extra help, Medicaid and eligibility for federal and many state food and housing assistance programs also are tied to the annual COLA.


    If you were receiving the average worker's Social Security retirement benefit of $1,224 in July, your increase, effective Jan. 1, would likely be $18.36 per month or about $220 a year. Don't spend it all in one place.


    Read more: http://www.bank rate.com/financing/retirement/social-security-up-1-5-percent-in-2014/#ixzz2dc7GVesf  
    Follow us: @Bankrate on Twitter | Bankrate on Facebook


    This website has a lengthier article:
     http://www.accountingweb.com/article/social-security-wage-base-projected-115500-2014/221972  



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