Tuesday, October 16, 2012

2013 Social Security COLA to be 1.7%

Today the SSA announced a 1.7% cost-of-living adjustment (COLA) for benefits, payable as of January 2013. Last year the COLA was larger at 3.6%, although no COLAs were paid in 2009 or 2010.

The maximum taxable wage for Social Security also will rise to $113,700, from the 2012 value of $110,100.

Click here for more information from SSA.

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