Social Security announces 1.5 percent benefit increase | Detroit Lakes Online
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Social Security announces 1.5 percent benefit increase

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The Social Security Administration has announced that monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 63 million Americans will increase 1.5 percent in 2014.

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The 1.5 percent cost-of-living adjustment (COLA) will begin with benefits that more than 57 million Social Security beneficiaries receive in January 2014.

Increased payments to more than 8 million SSI beneficiaries will begin on Dec. 31.

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