|Sen. Brown announces Social Security benefits to rise by 1.5% in 2014|
|Wednesday, October 30, 2013 3:42 PM|
WASHINGTON, D.C. – Today, the U.S. Social Security Administration (SSA) announced that monthly Social Security and Supplemental Security Income (SSI) benefits will increase by 1.5 percent in 2014, benefiting nearly 63 million Americans.
Following the announcement, U.S. Sen. Sherrod Brown (D-OH) offered the following statement:
“More than two million Ohioans will see their Social Security benefits increase next year, but many seniors are still struggling to make ends meet,” Brown said. “Seniors have spent a lifetime paying into Social Security. As the cost of living continues to rise, and the budgets of many seniors already stretched to the breaking point, we should continue to ensure that seniors receive the benefits they have earned. Congress needs to do more to ensure that our seniors can continue to retire with dignity.”
The cost of living adjustment (COLA) of 1.5 percent will be applied to benefits received by more than 57 million Social Security beneficiaries starting on Jan. 14. More than 8 million beneficiaries will see payments beginning Dec. 31 of this year.
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