Inflation triggers 5.9% increase in Social Security benefits for 2022
It’s the largest increase in nearly 40 years, according to the Social Security Administration.
By Stephanie KimInflation triggers 5.9% increase in Social Security benefits for 2022
It’s the largest increase in nearly 40 years, according to the Social Security Administration.
By Stephanie Kim
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About 70 million Americans will see a 5.9% increase in their Social Security and Supplemental Security Income benefits next year due to inflation.
Reset brings on an expert to discuss what the increase means for recipients and share tips on retirement savings and decisions.
GUEST: Melissa Favreault, senior fellow in the Income and Benefits Policy Center at the Urban Institute