WASHINGTON (AP) -- Social Security benefits for 50 million people will be going up by 5.8 percent next year, the largest amount in more than a quarter-century.
The increase, which will start in January, was announced Thursday by the Social Security Administration. It will mean an additional $63 per month for the average retiree.
The increase is the largest since a 7.4 percent jump in 1982 and is more than double the 2.3 percent rise that retirees got in their monthly checks starting in January of this year.
5727 Tokay Blvd., Madison, WI 53719
News Tips: 608-273-2727 or email@example.com