Sen. Chuck Schumer released a report this morning that shows exactly what the recently announced 3.6 percent Social Security cost-of-living boost will mean for north country retirees.
His report states:
In Jefferson County, 20,720 seniors will receive a total of $10.4 million more in Social Security benefits this year.
In St. Lawrence County, 24,185 seniors will receive a total of $12.1 million more in Social Security benefits this year.
In Lewis County, 5,235 seniors will receive $2.6 million more in Social Security benefits this year.
Mr. Schumer, D-N.Y., said in a news release: "Costs for so many goods that our seniors depend on are on the rise, and it's up to the federal government to ensure that Social Security keeps pace. I'm pleased that Social Security payments are going up this year, and will do everything I can to ensure that seniors aren't shortchanged in the future.”
Each senior will receive about $500 more in benefits, Mr. Schumer said.