Making up for Inflation, SS Bennies will rise


Money

It won't exactly make you rich, but to counteract inflation, the 2019 cost of living adjustment for Social Security recipients will be its highest since 2012.

Mary Johnson is a policy analyst at the Senior Citizens League.

"We have projected a 2.8% COLA for 2019 and this is based on consumer price index data through August."

Johnson says that's not a lot but it's more than double the COLAs of recent years.

"Since 2012 it's averaged about 1.2% per year."

Johnson says it'll boost the average beneficiary’s check by $39 a month.

"The people who have been retired the longest were used to having COLAs that were much higher, like 3 to 4%; newer retirees have never seen that -- if they've retired in the past seven years."

Johnson says there was no increase in 2016.


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