Social Security checks will increase - WALB.com, South Georgia News, Weather, Sports

Social Security checks will increase

By Jennifer Emert - bio | email

October 17, 2008

ALBANY, GA (WALB) - Fifty million retirees across the nation and in south Georgia will see their largest cost of living increase in more than two decades next year.

Average retirees will earn another $750, thanks to the annual cost of living increase in Social Security Benefits.

Tough economic times are the reason for the 5.8 percent increase in benefits. With cost increases for energy, fuel, and groceries many retirees on a fixed income have been paying out more for the basic necessities.

 It's been years since Colleen Chappell retired from her job as the Radium Middle School lunch room manger, now she volunteers five days a week at the Albany Senior Center on Pine Avenue, but higher prices could cut her hours.

"The way everything is going up with the gas prices so high, it's hard to make ends meet," she said.

She's on a fixed income with her retirement and social security benefits and doesn't want money to dictate whether she continues to drive from Mitchell County to volunteer. "It keeps me young. It helps me as much as I help them."

News of an increase in social security benefits is welcome. "Since 1973, the Social Security Act has called for this economic protection to be in place so that the cost of living makes the check flow with the economy," said Charles Tennille, Social Security Administration District Manager.

To make up for tough times, retirees will see between $58 and $63 more in their checks starting in January, about $750 a year.

"So that's basically showing there's been a 5.8 percent need or increase in what the economic need would be for our beneficiaries," says Tennille.

For Colleen, it will fit the bill. "That would be wonderful, we can't be greedy we have to be thankful and I'm very well satisfied. It will help a lot."

Increases have been below three percent for all but three of the past 15 years.

Feedback

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • The Latest: Irma weakens into a tropical depression

    The Latest: Irma weakens into a tropical depression

    Monday, September 11 2017 3:27 AM EDT2017-09-11 07:27:29 GMT
    Tuesday, September 12 2017 2:42 AM EDT2017-09-12 06:42:09 GMT
    Irma weakened to a Category 1 storm as the massive hurricane zeroed in on the Tampa Bay region early Monday after hammering much of Florida with roof-ripping winds, gushing floodwaters and widespread power outages.More >>
    Irma weakened to a Category 1 storm as the massive hurricane zeroed in on the Tampa Bay region early Monday after hammering much of Florida with roof-ripping winds, gushing floodwaters and widespread power outages.More >>
  • Rodent renders Bainbridge powerless

    Rodent renders Bainbridge powerless

    Friday, September 22 2017 12:16 PM EDT2017-09-22 16:16:54 GMT
    (Source: WALB)(Source: WALB)

    A city-wide power outage left Bainbridge without power when a squirrel got into the substation and tripped breakers. 

    More >>

    A city-wide power outage left Bainbridge without power when a squirrel got into the substation and tripped breakers. 

    More >>
  • President Carter honored with GSW Presidential Plaza dedication

    President Carter honored with GSW Presidential Plaza dedication

    Friday, September 22 2017 11:40 AM EDT2017-09-22 15:40:11 GMT

    Dedication of Georgia Southwestern State University's "Presidential Plaza"  is scheduled for 11:00 a.m. at the Wheatley Administration Building Lawn, on the Georgia Southwestern State campus in Americus. This new area on campus serves as the centerpiece to the University's signature entrance.  The west or front side of the plaza features a set of planted hedges that spell "GSW." The east or plaza side includes a mounted hand signature in cement from Pre...

    More >>

    Dedication of Georgia Southwestern State University's "Presidential Plaza"  is scheduled for 11:00 a.m. at the Wheatley Administration Building Lawn, on the Georgia Southwestern State campus in Americus. This new area on campus serves as the centerpiece to the University's signature entrance.  The west or front side of the plaza features a set of planted hedges that spell "GSW." The east or plaza side includes a mounted hand signature in cement from Pre...

    More >>
Powered by Frankly