"Raising the retirement age would inflict further hardship among a group of workers who are likely to face health and economic problems in their 60s." –Doug Hart, President, Arizona Alliance for Retired Americans
The year 2014 will bring another small raise for millions of people in earned Social Security, veterans' and federal pension benefits. Next year's cost-of -living adjustment (COLA) increase will be 1.5%, the U.S. Department of Labor and the Social Security Administration announced today. The increase is based on the current CPI (Consumer Price Index) calculation, calibrated specifically for working Americans.