Comment on Social Security increase will be 1.7 percent next year

Social Security increase will be 1.7 percent next year

WASHINGTON (AP) - Millions of older Americans who rely on federal benefits will get a 1.7 percent increase in their monthly payments next year, the government announced Wednesday.It's the third year in a row the increase will be less than 2 percent.The annual cost-of-living adjustment, or COLA, affects payments to more than 70 million Social Security recipients, disabled veterans and federal retirees.

 

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