This month retired Missouri residents will see a 1.6% cost of living adjustment in their Social Security benefits.
About 75% of the increase is paid out to beneficiaries listed as retired workers, and about 13% is paid to disabled workers. According to the most recent Social Security Administration data, there are 1,293,897 Missourians receiving more than $1.7 billion in benefits statewide.
An SSA fact sheet reveals beneficiaries filed as retired workers can expect a monthly payment increase of about $24 over last year.
