Social Security COLA

Statement

By:  Rob Woodall
Date: Oct. 19, 2012
Location: Unknown

On Tuesday, the Social Security Administration announced that the automatic Cost of Living Adjustment (COLA) for 2013 Social Security benefits will be 1.7 percent. That amounts to an average increase of about $250 next year. I know that these dollars will be helpful to the millions of Americans receiving Social Security, but these COLA numbers are also good news for all Americans as they indicate that overall consumer prices have remained relatively stable over the past year.