WASHINGTON (AP) -- Come January, Social Security benefits for nearly 50 million Americans are going up 2.3 percent.
It will be the smallest increase in four years.
The government says the cost-of-living adjustment will mean an extra $24 per month in the average check. The monthly benefit for the typical retired worker in 2008 will go from $1,055 as of now to $1,079 next year.
The adjustment, announced by the Social Security Administration, will go to more than 54 million Americans. Nearly 50 million receive Social Security benefits and the rest get Supplemental Security Income payments aimed at helping the poor.