Oklahoma seniors secure a raise

 
BY JOHNNY JOHNSON | Published: October 17, 2008    Comment on this article Leave a comment

MUSTANG — It was lunchtime at the Mustang Senior Center and lively games of bingo, dominoes and bridge were under way. Many of the regulars had not yet heard the news that their Social Security checks are going up 5.8 percent next year.

Multimedia

Videoview all videos

Explaining the raise thumbnail

Explaining the raise

Oct 17Larry Jones of the Social Security adminstration explains...

Social Security Raise thumbnail

Social Security Raise

Oct 16Noal May and Stefanie Grantello share their feelings on...

More Info

BY THE NUMBERS
Social Security increase
Here’s a look at the changes you can expect from the largest Social Security check increase in 26 years:

5.8
Percent increase will begin in January.

$63
Additional money per month an average retiree can expect.

$1,090
Current typical retiree monthly check.

$1,153
New typical retiree monthly check.

$96.40
Current premiums for Medicare part B.

$96.40
Unchanged, new premium for Medicare part B.

635,000
Oklahomans who will see an increase next year.

50 million
Americans who will see the increase next year.

Source: Social Security Administration


BACKGROUND
Raises since 1999
1999 — 1.3 percent

2000 — 2.5 percent

2001 — 3.5 percent

2002 — 2.6 percent

2003 — 1.4 percent

2004 — 2.1 percent

2005 — 2.7 percent

2006 — 4.1 percent

2007 — 3.3 percent

2008 — 2.3 percent

2009 — 5.8 percent

Source: Social Security Administration

ONLINE
Video


• Larry Jones of the Social Security Administration talks about the increase.


• Noal May and Stefanie Grantello share their feelings on the issue.Newsok.com

Related content

NewsOK Related Articles

That’s the largest increase in 26 years, but it wasn’t big enough news to stop the games at the senior center on Thursday.

Four men seated around a card table joked about finally having enough money to take their girlfriends out on a date. One of them said he might be able to actually find a date with his newfound wealth.

Citing rising energy and food costs, or the fact that Social Security raises often are accompanied by higher Medicare premiums, some seniors were skeptical. "I’ll believe it when I see it,” one said, and "Show me the money,” another said, both without looking up from their cards.

But when the bingo game was over, Ilene Fesler wanted more information.

"5.8 percent, you said? That’s just wonderful.”

Fesler said she lost $100,000 when the stock market tumbled.

"If we were 40 years old, we could recoup it,” Fesler said. "But you just can’t at 68. It hurts.”

Soaring prices means bigger checks
For the average senior, the raise is about $63 a month, said Larry Jones, a public affairs specialist with the local Social Security Administration office.

Page 1 of 2






Leave a Comment

Thank you for joining our conversation on NewsOK.com. We encourage your discussion but ask that you stay within the bounds of our commenting and posting policy. Please help by flagging comments that violate these guidelines. Posts that contain obscene or vulgar language will be immediately flagged and not posted.

If you prefer your thoughts to appear in The Oklahoman, we encourage you to submit a letter to the editor.

Would you like to leave a comment?

Log in or sign up (it's free).

comments powered by Disqus


Total Hedge Fund Services
Accounting, admin, tax, marketing, website, start up & more.
www.completehedge.com
Best Business Credit Card
Find the credit card for your business with the best rewards!
PersonalFinancesAdvisor.com

News Photo Galleriesview all