Those who receive Social Security benefits will be getting more money in their checks next year as the program implements it's 2018 Cost of Living Adjustment. The COLA is a part of Social Security that helps keep payments in line with inflation.
Jack Myers with the Social Security Administration explained when folks can expect their December Social Security checks, and how much of a raise to expect.
There are some questions as to how the SSA determines these raises. Myers says it all comes down to inflation.
Average retirement benefits will rise from the current $1,377 to $1,404 after the COLA adjustment.
Myers appeared as a guest on the Newstalk WTIM Morning Show.