Seniors and retirement savers finally got the word last week on three critical inflation adjustments for next year – and the word was — not bad.
The burst of fall cost-of-living adjustment (COLA) announcements was delayed by the recent government shutdown. Now the COLA figures for Social Security, Medicare and limits on contributions to retirement savings accounts for 2014 have all been released. It will be a year of moderate Social Security benefit bumps, flat Medicare premiums and status quo for retirement savers.
I’ve got a rundown of the key numbers today at Reuters Money.