Social Security benefits to increase 2% in 2018

(Indiana Statehouse Newsroom / Indianapolis) - The Social Security Administration recently announced it's increasing how much people take home every month in benefits.

Right now, for retired workers, the average monthly check is $1,377. Starting in 2018, that will jump to $1,404.

That works out to roughly $27 extra every month and that extra money means a lot to many Hoosiers.

Judith Dow watches every penny she spends. She survives on her monthly Social Security checks alone and it's hard.

“Housing is expensive. Groceries are expensive. Medicare is real expensive – medical things. There's not much left over,” said Dow.

According to the Social Security Administration, she's one of more than 1.3 million Hoosiers getting monthly benefits.

Dow told us she's worked her all life – working two and three jobs to raise her three daughters.

JoJo Wright used to depend on the fruits of her labor too.

Now, she survives on her monthly checks.

“It's very important to me. It takes care of all my bills and everything I need. If they give us a raise, it would be a beautiful thing,” said Wright.

That raise is on the way. The recently announced 2% increase starts in 2018.

Based on the cost of living, it means roughly $27 more every month.

For Wright, “$27 is better than no dollars!” She said the $27 a month extra would go a long way. "I could pay one of the organization's yearly fees which I can't do right now. Or, It'd be a treat with my granddaughter."

(This story was originally published on October 17, 2017)


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