Social Security Payout Adjustment Largest Since 2012

(Chart vis WSJ)

Social Security recipients will see the largest increase to their benefits in seven years in January.

The 2019 cost-of-living increase will be 2.8%, the Social Security Administration announced today.

The cost-of-living adjustment, based on a formula that reflects changes in consumer prices, will be the largest for the monthly payments since a 3.6% increase in 2012.

More than 62 million Americans receive Social Security benefits.

-RW