Starting next year, Social Security benefits will rise 1.7 percent — or about $20 a month based on an average monthly Social Security payment of $1,192. That increase, or cost-of-living adjustment (COLA), has been pegged to the consumer price index (CPI) since 1975. It’s one of several ways to measure inflation. So, how do we measure the CPI?
Senate Majority Leader Tom Bakk says voters should decide whether Minnesota’s minimum wage climbs automatically. A constitutional amendment that he and another prominent senator put in play Thursday would ask voters this fall if they think the wage should be forever linked to inflation.
Governor Mark Dayton says Minnesota lawmakers don’t get paid enough. The governor is supporting a recommendation from the State Compensation Council to raise lawmaker pay in 2015.
On Wednesday at 7 a.m., the Metropolitan Sports Facilities Commission will attempt to “raise the roof” at the Metrodome after seven months of sagging.
Moneywatch.com editor at large Jill Schlesinger talked with Dave Lee on the WCCO Morning News today
Personal finance expert Jordan Goodman paid his monthly visit to the WCCO Morning News.