Retirees Will Likely See Low Benefit Increases Next Year

4 years 3 months 5 days ago Wednesday, October 16 2013 Oct 16, 2013 Wednesday, October 16, 2013 3:52:00 AM CDT October 16, 2013 in News
By: Nick Thompson, KOMU 8 Reporter
loading

COLUMBIA - Retirees eligible for Social Security benefits will likely receive another historically small increase in their benefits in 2014, according to early projections.

The Social Security Administration uses the Sept. Consumer Price Index (CPI) to calculate a Cost-of-Living Adjustment (COLA) for the next year. The CPI measures changes in what prices consumers pay for certain goods and services. The federal government uses the CPI as an inflation indicator.

The U.S. inflation rate has hovered around 2 percent in recent years, so the COLA has not changed much. In three of the last four years, recipients have seen little or no increase in benefits.

In 2010 and 2011, Social Security recipients did not receive a benefit increase after the COLA was calculated. In 2012, beneficiaries received a 3.6 percent increase.

In 2013, recipients saw a 1.7 percent increase in their benefits after the government calculated the COLA.

The American Institute for Economic Research estimates the COLA will lead to another small benefit increase for 2014 of about 1.5 percent.

 

 

More News

Grid
List
KANSAS CITY, Mo. (AP) — Kansas City police have made an arrest in a double shooting that left a 46-year-old... More >>
2 minutes ago Saturday, January 20 2018 Jan 20, 2018 Saturday, January 20, 2018 12:49:41 PM CST January 20, 2018 in News
SEDALIA - The Pettis County prosecutor has issued a warrant for the arrest of a man in connection to the... More >>
19 minutes ago Saturday, January 20 2018 Jan 20, 2018 Saturday, January 20, 2018 12:33:00 PM CST January 20, 2018 in News
ST. LOUIS (AP) — Coyote sightings are becoming more frequent in the St. Louis area, and some are strolling down... More >>
2 hours ago Saturday, January 20 2018 Jan 20, 2018 Saturday, January 20, 2018 10:37:36 AM CST January 20, 2018 in News
ST. LOUIS (AP) — The number of confirmed cases of chronic wasting disease in Missouri deer is up, but... More >>
2 hours ago Saturday, January 20 2018 Jan 20, 2018 Saturday, January 20, 2018 10:26:00 AM CST January 20, 2018 in News
RICHMOND, Va. - The Federal Bureau of Investigation is asking for the public's help with identifying a serial robber called... More >>
2 hours ago Saturday, January 20 2018 Jan 20, 2018 Saturday, January 20, 2018 9:59:00 AM CST January 20, 2018 in News
CHARITON COUNTY -- Alonzo Bernard Thorpe of Clark, Missouri was found guilty of eight counts of child molestation and two... More >>
5 hours ago Saturday, January 20 2018 Jan 20, 2018 Saturday, January 20, 2018 7:38:00 AM CST January 20, 2018 in News
WASHINGTON (CNN) -- In the final moments leading up to Friday's midnight deadline, Senate Republicans and Democrats were unable to... More >>
7 hours ago Saturday, January 20 2018 Jan 20, 2018 Saturday, January 20, 2018 5:00:00 AM CST January 20, 2018 in News
(CNN) - The FBI recently opened an inquiry into Missouri Gov. Eric Greitens, two US officials told CNN, as he... More >>
15 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 9:19:05 PM CST January 19, 2018 in Continuous News
COLUMBIA - A visiting MU researcher is working to fight cancer with blueberries - specifically the extract of the fruit.... More >>
16 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 8:06:00 PM CST January 19, 2018 in News
COLUMBIA - Some facilities in the state may be required to hang posters with information about human trafficking by the... More >>
18 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 6:43:00 PM CST January 19, 2018 in News
JEFFERSON CITY (AP) — Missouri offered Amazon nearly $2.5 billion in incentives over 10 years in a bid to... More >>
19 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 5:25:09 PM CST January 19, 2018 in News
COLUMBIA - Show-Me State Games will be hosting its last MFA Oil - Break Time Shootout on Saturday. It is... More >>
20 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 4:26:00 PM CST January 19, 2018 in News
COLUMBIA - Researchers at the University of Missouri have found that 80 percent of state students who needed treatment for... More >>
20 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 4:09:00 PM CST January 19, 2018 in News
COLUMBIA - Campaign finance reports revealed Governor Eric Greitens' campaign operation has been leasing space in the same complex as... More >>
20 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 4:03:00 PM CST January 19, 2018 in News
COLUMBIA- The annual blood drive for fallen officer Molly Bowden came at a time when collecting blood is vital. ... More >>
20 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 3:56:00 PM CST January 19, 2018 in Continuous News
COLUMBIA- A federal judge sentenced a man to more than 20 years in prison Friday for exploiting several children under... More >>
22 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 2:37:00 PM CST January 19, 2018 in News
COLUMBIA- While the government heads toward a possible partial shut down many government agencies in mid-Missouri will remain open. ... More >>
22 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 2:23:00 PM CST January 19, 2018 in News
JEFFERSON CITY - Rep. Dean Dohrman, (R-La Monte) has introduced House Bill 1528 to the Missouri Legislature. The bill requires... More >>
22 hours ago Friday, January 19 2018 Jan 19, 2018 Friday, January 19, 2018 2:21:00 PM CST January 19, 2018 in News
Columbia, MO
Broken Clouds 48°
1pm 46°
2pm 48°
3pm 49°
4pm 49°

Select a station to view its upcoming schedule:

Coming Up Next

11:30a
English Premier League Soccer
1:30p
Premier League Goal Zone
2:00p
FIS Alpine Skiing World Cup
12:30p
The King of Queens
1:00p
Rookie Blue
2:00p
Rookie Blue

Tonight's Schedule

7:00p
Will & Grace
7:30p
Superstore
8:00p
Dateline NBC
9:00p
Saturday Night Live
7:00p
Family Guy
7:30p
Family Guy
8:00p
Bob's Burgers
8:30p
Bob's Burgers
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld