MW:Social Security benefits to increase 3.6% in 2012
By Jeffry Bartash
WASHINGTON (MarketWatch) - Americans who receive Social Security will get a 3.6% increase in benefits in 2012, the first hike in three years. Increases in benefits are determined by the Labor Department's so-called CPI-W inflation gauge during the U.S. government's fiscal year, which runs from October to September. Yet an expected increase in Medicare premiums could eat up most or all of the rise in Social Security benefits. The change in Medicare premiums will be announced later this month.
