Friday, November 8, 2013

Social Security Recipients Get an Increase in 2014


The Social Security Administration announced this week benefits will rise for 2014.

The adjustment, known as COLA (Cost Of Living Adjustment) will take place starting January.

The total rise will equal 1.5%.  This translates to those on SSDI (Disability Income) will raise the maximum benefit from $710 per month to $721.  The federal maximum for a couple will raise from $1,066 to $1,082 per month.  Actual amounts may depend on the state as some states supplement the income.