October 16, 2012
Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 62 million Americans will increase 1.7 percent in 2013. The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that Social Security beneficiaries receive in January 2013, and the increased payments to SSI beneficiaries will begin on December 31, 2012. The average monthly benefit that a Social Security Disability beneficiary receives, $1,113, will increase to $1,132.
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