Beneficiaries of Social Security may have noticed that they received a bit more money this January.

There has been a 1.7% cost of living adjustment. Jack Myers, with Social Security, says that all ongoing payments after this month will be a little more than in the past. He says that you may not see the exact increase because there was also an increase on the Medicare Part B premium that corresponds to the cost of living adjustment, but it seperate.

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Myers said that there are other figures that go up with a cost of living adjustment. He says that the adjustment is a measure of inflation. He explains that the Bureau of Labor puts out The Consumer Price Index for Urban and Clerical Wage Earners.

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Myers says some of the other figures that rise with the cost of living include the amount that you have to pay Social Security taxes on. He also says that the number of earnings for credits that are needed to earn retirement benefits has gone up.

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For more information on the cost of living adjustments or any Social Security needs, Meyers says the best place to visit is the Social Secuirty website at www.socialsecurity.gov.