2014 Social Security Wage Base and Cost of Living Adjustment Announced

On Wednesday, October 30th the Social Security Administration announced that Social Security recipients would see an increase in benefits of 1.5% as a result of the 2014 Cost of Living Adjustment (COLA). Additionally, the taxable social security wage base will increase to $117,000 from $113,700 as a result of an increase in average wages. The link below will take you to the full text of the announcement.

http://www.ssa.gov/pressoffice/pr/2014cola-pr.html