Are You Keeping Up With The Joneses?
Social Security income is determined by how much money you made during your working years. A new report by Yahoo! Finance discovered the average monthly retirement benefit in February was $1,830.66. Keep in mind that’s the average monthly benefit — the maximum is $4,555 per month. That is how much someone would receive if they consistently earned above the maximum taxable level while working and waited until age 70 to start claiming Social Security benefits.
The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, establish a fair annual cost-of-living adjustment (COLA), increase minimum benefits, and ensure the long-term solvency of the Social Security program.
