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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: Paul Kern	10/18/2006 8:54:39 AM
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DJ US: Social Security Benefits +3.3% In '07 Vs +4.1% In '06 WASHINGTON (AP)--Social Security checks for nearly 49 million Americans are going up by 3.3% in 2007, a smaller percentage gain than this year, the government announced Wednesday. The cost of living adjustment will translate into an average monthly increase of $33 for the typical retired worker, pushing the average monthly benefit from $1,011 currently to $1,044. The cost of living adjustment announced Wednesday by the Social Security Administration will go to more than 53 million people. Nearly 49 million receive Social Security benefits and the rest Supplemental Security Income payments aimed at the poor. The 3.3% increase compares to a 4.1% rise in monthly benefits for 2006, which had been the biggest increase in 15 years. Starting in 1975, the benefit payments have been adjusted each year to keep up with inflation. (END) Dow Jones Newswires 10-18-06 0840ET Copyright (c) 2006 Dow Jones & Company, Inc.

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