Archive for October 2016

“Retirees will see their monthly Social Security checks grow by USD 4 on average in 2017,” by Jonnelle Marte, Washington Post, October 18, 2016

“Retirees receiving Social Security benefits will see their payments rise next year. But the increase will be tiny — about enough to splurge on an extra latte each month.

The Social Security Administration announced Tuesday that the tens of millions of people receiving retirement and supplemental benefits will see payments increase by 0.3 percent in 2017. For the average retiree, that will mean $3.92 more per month.

Retirees have grown used to seeing no or little-to-no pay increases over the past several decades as inflation has stayed low. The cost-of-living adjustments, which are linked to the consumer price index, have been especially low in recent years because of low gas prices. This year, for instance, benefits did not grow at all, the third time since 2010 that there was no cost-of-living adjustment.”

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“Aging baby boomers means more drivers older than 65, statistics show,” Associated Press/CBS Inc. News, October 18, 2016

“The government says nearly 1 in 5 drivers in the U.S. is over 65 years old, thanks in part to the aging baby boomer generation and greater longevity overall.

Preliminary data from the Federal Highway Administration also show there are more drivers today than ever before, an estimated 217 million.

Drivers over 65 are one of the fastest-growing demographic groups among U.S. drivers, increasing 2 percent last year. That’s the biggest single-year percent increase on record that population, and represents 4.4 million additional older drivers.

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