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Social Security checks getting big boost as inflation rises

By Doug Barrett Oct 14, 2021 | 8:01 AM

Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. The benefits increase amounts to $92 a month for the average retired worker.

The increase affects household budgets for about 1 in 5 Americans, nearly 70 million people, including Social Security recipients, disabled veterans and federal retirees. Policymakers say it’s a safeguard to protect benefits against a loss of purchasing power, and not a pay raise for retirees.

There are upwards of 140,000 recipients in North Dakota.

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