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Social Security Benefits Going Up Next Year, Kind Of……

Social Security Benefits Going Up Next Year, Kind Of……

Photo: WNAX


The Trustees of the Social Security system have determined that people getting benefits will get a two tenths of one percent raise next year. That would be about two dollars fifty cents for the average retiree.

South Dakota AARP State Director Erik Gaikowski says Social Security is a big deal for a lot of people in the state…..https://soundcloud.com/wnax-radio/erik-gaikowski-623a

Gaikowski says the trustees use the CPI, or rate of inflation to decide on increases. He says that often doesn’t reflect real life costs…..

Medicare premiums will rise an average of fifteen to twenty percent for most retirees.

Gaikowski says they are starting a campaign to push for changes to how Social Security and Medicare are funded…..

Gaikowski says for many seniors in the state, Social Security is the bulk of their income.

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