Overcast
58°
Crystal Lake, IL
Overcast|Forecast »

Small 2013 Social Security benefit increase likely

WASHINGTON — Social Security recipients won't be getting big benefit increases next year, but the small raises they will receive are playing an important role in helping seniors grow their incomes even as younger workers lose ground.

Preliminary figures show the annual benefit boost will be between 1 and 2 percent, which would be among the lowest since automatic adjustments were adopted in 1975. Monthly benefits for retired workers average $1,237, meaning the typical retiree can expect a raise of between $12 and $24 a month.

The size of the cost-of-living adjustment, or COLA, will be made official Tuesday, when the government releases inflation figures for September.

Story Archived

Only the most recent 7 days of articles are available for free. For articles older than 7 days there is a small fee for retrieval from our archive. If you are a registered member of the site, the content is free just by signing in below.

Please sign in with your Comment Member ID and password.

Did you purchase access?

Member ID:
Password:
Forgot Your Password?
Register to comment.

Purchase Access
To allow for flexibility, we offer a variety of options for purchasing articles:
Purchase options


Having trouble?

If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at archivedesk@shawmedia.com


Reader Poll

How often do you go boating?

As often as possible
A few times a season
Once in a while
Never