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Social Security Increase

Social Security Increase

Oct 30, 2013 at 12:39 pm

 

The annual COLA, or cost-of-living adjustment for 58 million people receiving social security benefits has been announced. The COLA affects benefits for more than one-fifth of the country.  The increase in social security payments next year will be just one-and-a-half percent.  The cost of living increase is among the smallest since automatic adjustments began in 1975 - a time of really high inflation.

Over 122-thousand North Dakotans receive social security benefits -- including nearly 93-thousand over the age of 65.    In Minnesota more than 927-thousand receive SS checks.   Payments to North Dakota exceeded 133-point-six million dollars last year.  The latest adjustment will add about 19 dollars to the monthly check.

Jarrod Thomas

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