Beginning in January, benefits
from the Social Security Administration will increase by 1.7%. The increase coincides
with the increase in cost of living expenses that have showed a constant
increase of 1.7% over the last twelve months. The average worker will receive
roughly $1,328 a month, which translates to about $15,936 a year. The Social
Security Administration has also announced that the amount of income that
workers pay Social Security taxes on will also increase due to the increase in
average wages. This amount was $117,000 in 2014, but will increase to $118,500
for 2015.
