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.
- Social Security benefits to go up by 1.7 percent (bostonherald.com)