Social Security announces 1.5 percent benefit increase
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.
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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