Social Security cost-of-living adjustment for 2013

Measly Social Security COLA Announced for 2013

Posted on 10/16/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsYou 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]. 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 …