- Richard Cordray, Director of the Consumer Financial Protection Bureau, Discusses Mortgage Rules at Consumer Federation of America Meeting
- UPDATED LINKS: Dangerous Hydrogen Fluoride Among Water Emissions Sent to Huntington Waste Treatment Plant According to EPA
- Ellen Wilson First Spouse Gold Coin Available December 9
- WORK SESSION: Council Holds Solemn Preparation, While Discussing Skatepark, Comprehensive Plan
- Day Three: Stewart Receives 2013 NMPA Myers Brothers Award
- Police seized hundreds of thousands in cash, firearms and pills during investigation
- Huntington Mayor's Dad, Dr. Don Williams Passes
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Dec. 6, 2013
- Send Off Planned for Huntington Highlanders to State Championship
- BREAKING... Condolences to Huntington Mayor Steve Williams & Family on the Passing of his Dad.
Social Security Announces 1.5 Percent Benefit Increase for 2014
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.
The Social Security Act provides for how the COLA is calculated. To read more, please visit www.socialsecurity.gov/cola.