Relevant:
- U.S. CEOs push plan to raise full retirement age to 70
- Democrats Push Plan to Increase Social Security Benefits and Solvency
- Millions face shrinking Social Security payments
- Feds Cut Social Security to Retirees Who Owe Student Debt
- Social Security Ran $47.8B Deficit in FY 2012; Disabled Workers Hit New Record in December: 8,827,795
2012-10-16 — huffingtonpost.com
Social Security recipients won't be getting big benefit increases next year, but the small raises they will receive are playing an important role in helping seniors grow their incomes even as younger workers lose ground.
Preliminary figures show the annual benefit boost will be between 1 and 2 percent, which would be among the lowest since automatic adjustments were adopted in 1975. Monthly benefits for retired workers average $1,237, meaning the typical retiree can expect a raise of between $12 and $24 a month.
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