Biggest Bump in Years for U.S. Retirees Amounts to $27 a Month
The Biggest Retirement Mistake People Make
This article is for subscribers only.
Social Security recipients will see a 2 percent bump in their benefits next year, the largest raise for retirees since 2012, though still small by historical standards, the Social Security Administration announced Friday.
The annual cost-of-living increase is determined by taking the average rate of inflation from the third quarter of one year to the next, using the Bureau of Labor Statistics’ broad measure of prices for food, housing, clothing, transportation, energy, medical care, recreation and education.