MEASLY SOCIAL SECURITY "COLA" You won’t be rolling in dough with next year’s Social Security cost-of-living adjustment at 1.7 percent — about $21 a month more for people collecting the average retirement benefit of $1,236. [See our full story on the COLA at this link: aarp.org/work/social-security/info-10-2012/social-security-2013-cola-increase.html Some 56 million beneficiaries will see the increase in their payments beginning in January. It’s one of the lowest since Social Security COLAs were adopted in 1975. Not to add insult to injury, but that $21 is likely to be reduced by a rise in the cost of Medicare premiums for 2013. An announcement on those Medicare premiums is expected later this month. blog.aarp.org/2012/10/16/measly-social-security-cola-announced-for-2013/
Posted on: Tue, 01 Oct 2013 21:42:50 +0000
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