Speed Reads

Aging in America

Social Security benefits will increase by 1.7 percent next year

The more than 70 million older Americans who receive federal benefits will see a small bump in their monthly payments next year, the government announced Wednesday. This is the third year the annual increase bucks the trend and stays below the 2-percent mark.

By law, the automatic increase is based on the inflation rate, which is also 1.7 percent and is well below historical averages.