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Social Security Raise

The average retired worker will receive an additional $30 each month next year, since Social Security beneficiaries are expected to get a 2.2% cost of living increase.

However, the trust fund that pays Social Security benefits is projected to run out by 2034, and the disability fund is expected to be depleted in 2028.  The Medicare trust fund is expected to run out by 2029.

Social Security pays benefits to 61 million Americans annually and paid $911 billion in benefits in 2016.