Social Security recipients to get small COLA

Published 11:29 pm Thursday, June 23, 2016

Though it may be tiny, the average Social Security recipient will receive a small increase in his or her benefits next year.

According to trustees who are charged with overseeing the nation’s entitlement program, Social Security recipients should see a 0.2 percent cost-of-living-adjustment for 2017.

That increase only equates to $2 in additional money for a person who receives a $1,000 check monthly.

This year, recipients received no COLA.

The final COLA figure will be determined this fall.

Officials say that trust fund for Social Security will run out in 2034, which is the same as last year’s prediction.