Retirees and other beneficiaries will see a 2.8 percent monthly bump in their Social Security benefits next year to reflect inflation.
The Social Security Administration announced the annual cost-of-living adjustment on Friday after the government shutdown delayed the release of September inflation data for the broader economy. The adjustment, known as the COLA, will be added in January to the benefits of 75 million Americans, a group that includes retirees and their spouses and survivors, as well as those who receive disability benefits and Supplemental Security Income.