The Social Security Administration has announced that there will be a 1.7% cost of living adjustment (COLA) for Social Security and SSI beneficiaries in calendar year 2013. The calculation is determined by comparing the change in the Consumer Price index (CPI) from the third quarter of 2011, (the last year of an increase) to the 3rd quarter of 2012.
As a result of the cost of living increase, the average monthly benefit in 2013 for all disabled workers will be $1,132 (v. $1,113 in 2012). For a disabled worker, spouse and one more children, the average monthly benefits in 2013 will be $1,919, while the maximum benefit will be $2,533.00.
The formal announcement of the changes appears in the Federal Register at 77 Fed. Reg. 65743.
Boca Raton Social Security Attorney Randy Zeldin, Esq. represents claimants seeking to appeal denials of Social Security Disability benefits, throughout South Florida, including Ft. Lauderdale and West Palm Beach.