Social Security COLA For 2025 Gives Retirees A Small Raise.

Autor:	STANLEY, ANNE (AUTHOR)
Předmět:	UNITED States. Social Security Administration, SOCIAL Security (United States), SOCIAL security taxes, INDIVIDUAL retirement accounts, UNEMPLOYMENT statistics, SOCIAL security, GROWTH stocks, UNEMPLOYMENT insurance
Zdroj:	Investors Business Daily. 10/10/2024, pN.PAG-N.PAG. 1p.
Abstrakt:	The Social Security Administration has announced that Social Security checks for most beneficiaries will increase by 2.5% in 2025. This is a smaller increase compared to the 3.2% hike in 2024 and the 8.7% raise in 2023. The average monthly benefit for retired workers will increase by about $50 to $1,920. However, many Americans rely heavily on Social Security, with about half of the workforce having no employer-provided retirement plan and a significant portion of working households having no individual savings for retirement. The future of Social Security and Medicare is also a concern, with projections showing that the funds may face a shortfall in the future. The Social Security COLA is calculated based on consumer price data, and the 2025 increase aligns with predictions made by the Senior Citizens League. [Extracted from the article]
Databáze:	Regional Business News
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