In Case You Missed It: Baltimore Marathon Photos
BusinessConsuming Interests

Social Security recipients to get 1.7 percent raise next year

The Social Security Administration announced Tuesday that 56 million retirement beneficiaries are set to get a cost-of-living raise of 1.7 percent next year. The same goes for the 8 million people receiving disability payments from the agency.

The raise is tied to inflation. Checks this year went up 3.6 percent, after two years when inflation was so low that beneficiaries didn't get a raise at all.

In addition, the agency announced that the level of earnings subject to the Social Security tax is going up $3,600 to $113,700 next year. Social Security says this means that about 10 million workers -- out of 163 million -- will pay more in taxes next year. 

Copyright © 2014, The Baltimore Sun
Related Content
  • Consuming Interests blog
    Consuming Interests blog
  • Pictures: Tips to cut down your grocery bill
    Pictures: Tips to cut down your grocery bill

    Is it possible to eat for $7 or less a day? Zack, an aspiring comedian, says he does it. Here's how, along with more strategies anyone can use. --Kimberly Palmer, U.S. News & World Report

  • How to find bargains
    How to find bargains

    Throughout the year, I write tips on how to get bargains and deals on a variety of items and services. For a comprehensive guide to markdowns, discounts and strategies to save money, see The Best Bargains, from the August issue of Kiplinger's Personal Finance magazine. Below you'll...

  • 10 places (beside the newspaper) to find coupons
    10 places (beside the newspaper) to find coupons

    When the Frugalista grocery shops, other people in line are surprisingly supportive of the coupon use going on, even though it takes me longer to check out. Other shoppers always want to know where I get all those coupons. I get them everywhere. Newspapers are far from the only place to find...

  • How to stretch your paycheck
    How to stretch your paycheck

    document.write (""); You keep asking yourself: Where has all the money gone? Of course, you have a good idea: It has gone to spending on groceries, cell phone and cable bills, mortgage and insurance payments, and maybe even on a weekly night out for dinner and on a daily cup of latte....

  • Extraordinary uses for ordinary items
    Extraordinary uses for ordinary items

    Some ordinary, unassuming household objects have super powers. And most of these items cost less than a couple of bucks. So the next time you stain a shirt, smell something funky or think about tossing a banana peel, check these 100-plus uses first. Not only will you be going green, you'll...

Comments
Loading