Oct 30, 2013 at 12:39 pm
The annual COLA, or cost-of-living adjustment for 58 million people receiving social security benefits has been announced. The COLA affects benefits for more than one-fifth of the country. The increase in social security payments next year will be just one-and-a-half percent. The cost of living increase is among the smallest since automatic adjustments began in 1975 - a time of really high inflation.
Over 122-thousand North Dakotans receive social security benefits -- including nearly 93-thousand over the age of 65. In Minnesota more than 927-thousand receive SS checks. Payments to North Dakota exceeded 133-point-six million dollars last year. The latest adjustment will add about 19 dollars to the monthly check.