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Social Security Benefits Rise

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By  Sean Allocca   Published October 11, 2018, 2:53 pm EDT
Financial Times

Social Security benefits to rise most in 7 years

Benefits for tens of millions of Social Security recipients and other retirees will tick up 2.8% next year as rising inflation boosts cost-of-living expenses, according to the Social Security Administration.

COLA 2019 IAG social security

The increased payout is the second-largest increase in the last decade — when the cost-of-living adjustment peaked at 5.8% — but still only accounts for an added $39 a month for the average recipient. Benefits are expected to hit $1,461 a month on average for all retired workers next year, according to government data.