Social Security increase will be tiny in 2013 - KWWL - Eastern Iowa Breaking News, Weather, Closings

Social Security increase will be tiny in 2013

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WASHINGTON, D.C. (KWWL) -

Social Security recipients shouldn't expect a big increase in monthly benefits come January.

Preliminary figures show the pay raise will be between 1 percent and 2 percent, which will be among the lowest since automatic adjustments were adopted in 1975

The raise will be made official Tuesday, when the government releases inflation figures for September.

The cost-of-living adjustment is tied to a government measure of inflation adopted by Congress in the 1970s.  It shows that consumer prices have gone up by less than 2 percent in the past year.

Monthly benefits for retired workers average $1,237, meaning the typical retiree can expect a raise of between $12 and $24 a month.

This year, Social Security recipients got 3.6 percent increase in benefits.  That came after two years with no increase.

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