Social Security Increase for 2013

The Social Security Administration announced a 1.7 percent cost-of-living adjustment increase on benefits for 2013. The wage base limit for the maximum amount of earnings subject to social security taxes will increase from $110,100 to $113,700.

To calculate your increase, multiply your current monthly social security benefit by 1.7 percent. This equals the amount of increase you will see on your monthly benefit payment in 2013.

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