×

Social Security payments to climb in 2023

By Doug Barrett Oct 13, 2022 | 9:15 AM

Millions of Social Security recipients will get an 8.7% boost in their benefits in 2023.

That’s a historic increase and welcome news for American retirees and others — but it’s tempered by the fact that it’s fueled by record high inflation that’s raised the cost of everyday living.

The average recipient will receive more than $140 a month extra beginning in January. The cost-of living adjustment is meant to help cover the higher cost of food, fuel and other goods and services.

There are over 138,000 recipients in North Dakota and 1.07 million in Minnesota.

FOLLOW US FOR INSTANT UPDATES!

KNOX on Twitter

No feed items available at this time.