10/14/2021 | News release | Distributed by Public on 10/14/2021 12:33
Millions of Social Security beneficiaries, including many IAM members, will receive a 5.9 percent cost-of-living increase in 2022. The average retired worker can expect to receive an additional $92 per month.
Active and retired IAM members have long called for an increase to earned Social Security benefits and for measures that secure the solvency of Social Security. As Machinists, we continue our fight to ensure Social Security continues to pay retirees their life-long earned benefits. The IAM remains committed to the fight to achieve dignified retirement benefits for our members and all seniors.
Union retirees were instrumental in some of the first significant Social Security benefit increases and the implementation of Medicare.
"While this is welcome news for IAM members, retired Americans, disabled veterans and millions more Social Security beneficiaries, we must do more to ensure to help older Americans and others in need make ends meet," said IAM International President Robert Martinez Jr. "We can start by passing the Build Back Better Act, which would lower the cost of prescription drugs. It is also past time to make the wealthiest Americans pay their fair share into Social Security."
Most people who receive Social Security payments will be able to view their COLA notice online through their personal my Social Security account. People may create or access their my Social Security account online at www.socialsecurity.gov/myaccount.