Social Security projects biggest payment increase in years

WASHINGTON — Millions of Americans who rely on Social Security are projected to receive their biggest payment increase in years this January. But it will probably be just a 2.2 percent increase, or about $28 a month for the average recipient.

The trustees who oversee Social Security and Medicare released their 2018 projections Thursday.

Social Security recipients have gone years with tiny increases in benefits because inflation has been low or nonexistent. This year they received an increase of 0.3 percent, after getting nothing last year.

Associated Press