Social Security Administration Announces Cost of Living Increases for 2015

On October 22, 2014 the Social Security Administration (SSA) announced a 1.7 percent cost-of-living increase for 2015. This modest increase will help preserve the buying power of Social Security benefits for nearly 64 million Americans, including many people with intellectual and developmental disabilities who receive benefits under our nation’s Social Security system.  According to SSA, the average monthly Social Security retirement benefit will increase by $22, from $1,306 in 2014 to $1,328 in 2015. The average monthly benefit for a Social Security “disabled worker” beneficiary will increase by $19, from $1,146 in 2014 to $1,165 in 2015.  Higher Medicare premiums will offset some of this increase. Changes in Medicare premiums for 2015 are available at Medicare.gov.  To read more, visit The Arc’s blog.

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