Retirees to get a Social Security increase
Detroit Free Press, October 19th, 2006
Social Security checks for nearly 49 million retirees will increase
3.3% next year, an average increase of $33 a month, the Social Security
Administration said Wednesday.
The cost-of-living adjustment
means the monthly benefit for the typical retiree will go from $1,011
to $1,044. Another 4 million people who get Supplemental Security
Income will also get the increase.
Part of the increase, however,
will go to a $5 increase in the payments retirees must make for
Medicare Part B, which pays for doctor visits and other outpatient
care. Part B payments had increased $10.30 a month this year.
Some details:
•
The average retired couple, with both receiving Social Security
benefits, will see their monthly check go from $1,658 to $1,713.
• The standard SSI payment will go from $603 a month for an individual to $623, and from $904 to $934 for a couple.
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