Retired Americans collecting Social Security payments will get their biggest payout in seven years starting in 2019.
Social Security benefits are slated to go up by 2.8 percent in 2019, making it the biggest gain for Social Security beneficiaries since payouts rose by 3.6 percent in 2012, MarketWatch reported Thursday.
All increases in Social Security benefits are determined by the CPI, which rose by 0.1 percent in September.
The 2.8 percent increase would tack on an additional $472 a year, or $39 per month, to those benefits.
Benefits rose just two percent in 2018 and 0.3 percent the year before.