Social Security checks will increase by 5.8% beginning January 2009
Local residents who receive social security benefits under the US Social Security Administration should expect to see an increase in their monthly benefits checks beginning January 2009.
The Social Security Administration announced last week that there will be a 5.8% increase for the new year, making it the highest yearly increase in the cost of living allowance (COLA) in 26 years.
The increase means that the average person will receive an extra $60 per month.
Social security benefits increase annually based on the rise in the consumer price index.
As of December 2007, there were 5,613 social security beneficiaries in American Samoa, which is an increase from the 5,503 local beneficiaries recorded the year before in December 2006.
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