The agency will begin notifying recipients about their new benefit amount by mail starting in early December. Millions of Social Security recipients will get a 2.5% cost-of-living increase to their monthly checks beginning in January, the Social Security Administration announced Thursday.The cost-of-living adjustment, or COLA, for retirees translates to an average increase of more than $50 for retirees every month, agency officials said.About 72.5 million people, including retirees, disabled people and children, get Social Security benefit.Commissioner Martin O’Malley said the adjustment will help “tens of millions of people keep up with expenses even as inflation has started to cool.”But even before the announcement, retirees voiced concern that the increase would not be enough to counter rising costs.Sherri Myers, an 82-year-old retiree from Pensacola City, Florida, is now hoping to get an hourly job at Walmart to help make ends meet.“I would like to eat good but I can’t.
Social Security Announces A 2.5% Boost For Recipients In 2025
Associated Press, Fast Company
Thu, 10/10/2024 - 11:19am
Topics: millions january commissioner martin o malley sherri myers pensacola city florida walmart mcdonald s supplemental aarp ceo jo ann jenkins americans democrat kamala harris republican donald trump august fund december i social security cola i m harris trump people taxes amount agency pay protect trust strengthen adjustment report early announcement program payroll shortfall eat
BING NEWS:
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12/21/2024 - 3:08 am | View Link - U.S. Senate passes Social Security benefits boost for many public service retirees
The Senate passed legislation early Saturday to boost Social Security payments for millions of people, pushing a longtime priority for former public employees through Congress in one of its last acts ...
12/20/2024 - 9:30 pm | View Link - Senate passes Social Security benefits boost for many public service retirees
The Senate is moving to a final vote on a proposal to boost Social Security payments for millions of people, potentially pushing a longtime priority for former public employees through Congress in one ...
12/20/2024 - 9:10 pm | View Link - Senate passes bill to boost Social Security benefits for some
The Senate voted overwhelmingly in the early hours of Saturday to pass legislation to boost Social Security benefits for more than 2 million Americans. The legislation will repeal two statutes that ...
12/20/2024 - 4:16 pm | View Link - Alert: Senate passes bill to boost Social Security benefits for many public service retirees, sending the measure to Biden
WASHINGTON (AP) — Senate passes bill to boost Social Security benefits for many public service retirees, sending the measure to Biden.
12/20/2024 - 3:16 pm | View Link - More
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