Social Security Benefits to Rise 1.7% Next Year

Social Security Benefits to Rise 1.7% Next Year

Social Security benefits will rise by 1.7 percent starting in January, the Social Security Administration announced Wednesday.

That’s a tad higher than this year’s 1.5 percent increase. It’s also the fourth straight year that the cost-of-living adjustment was below 2 percent for nearly 59 million retirees, disabled workers and their families. The adjustment amounts to about $22 a month for those who receive the average monthly benefit of $1,302.

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