KWTX - Central Texas Votes - Federal Headlines

Social Security COLA Won’t Amount To Much In 2013

WASHINGTON (October 14, 2012)--Social Security recipients shouldn't expect a big increase in monthly benefits come January.

Preliminary figures show the increase will be between 1 percent and 2 percent, which will be among the lowest since automatic adjustments were adopted in 1975

The raise will be made official Tuesday, when the government releases inflation figures for September.

The cost-of-living adjustment is tied to a government measure of inflation adopted by Congress in the 1970s,which shows that consumer prices have gone up by less than 2 percent in the past year.

Monthly benefits for retired workers average $1,237, meaning the typical retiree can expect a raise of between $12 and $24 a month.

This year, Social Security recipients got 3.6 percent increase in benefits.

That came after two years with no increase.


Poll Question

A new poll finds teens are sharing more about themselves on social media and moving to Twitter to avoid parents. How closely do you monitor your children’s use of social media such as Facekbook?

Very closely
Closely
Somewhat closely
Very little
Don’t monitor
Poll sponsored by:
KWTX-TV News 10 6700 American Plaza Waco, Texas 76712 (254) 776-1330 Fax (254) 751-1088
Gray Television, Inc. - Copyright © 2002-2013 - Designed by Gray Digital Media - Powered by Clickability
User Agent: CCBot/2.0 - 174097761