[nfbwatlk] FW: [Wcb-l] Social Security to increase 1..5% in 2014

[Mike Freeman]

From: Wcb-l [mailto:wcb-l-bounces at wcbinfo.org] On Behalf Of Glenn McCully
Sent: Wednesday, October 30, 2013 7:36 AM
To: wcb-l at wcbinfo.org
Subject: [Wcb-l] Social Security to increase 1..5% in 2014

 



Wednesday, October 30, 2013

Press Office 


For Immediate Release

410-965-8904

	
press.office at ssa.gov


Social Security Announces 1.5 Percent Benefit Increase for 2014

 

Monthly Social Security and Supplemental Security Income (SSI) benefits for
nearly 63 million Americans will increase 1.5 percent in 2014, the Social
Security Administration announced today.

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 December 31, 2013.

Some other changes that take effect in January of each year are based on the
increase in average wages.  Based on that increase, the maximum amount of
earnings subject to the Social Security tax (taxable maximum) will increase
to $117,000 from $113,700.  Of the estimated 165 million workers who will
pay Social Security taxes in 2014, about 10 million will pay higher taxes as
a result of the increase in the taxable maximum. 

Information about Medicare changes for 2014 is available at www.Medicare.gov
<http://www.medicare.gov/> .  

The Social Security Act provides for how the COLA is calculated.  To read
more, please visit www.socialsecurity.gov/cola <http://www.ssa.gov/cola/> .


 

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Glenn McCully

Human Resources Manager

The Lighthouse for the Blind Inc.

Phone: (206) 436-2246   |   Fax: (206) 436-2244   |   Cell: (206) 719-1426

Email:  <mailto:gmccully at seattlelh.org> gmccully at seattlelh.org   |   Web:
<http://www.seattlelighthouse.org> www.seattlelighthouse.org

 

Our Mission: To create and enhance opportunities for independence and
self-sufficiency of people who are blind, Deaf-Blind, and blind with other
disabilities

 

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