Thursday, October 20, 2011

Lawmakers Want Change For Social Security

{West Virginia}...Nearly 444,000 West Virginians will see larger Social Security checks beginning in January after the federal Social Security Administration on Wednesday announced it would increase monthly payments to its 55 million beneficiaries by 3.6 percent. The government had not given a cost-of-living adjustment, or COLA, since 2009. About 230,000 retired workers in West Virginia receive Social Security, and another 77,000 children, spouses, widows and widowers get checks. Senator Joe Manchin and Representatives Nick Rahall and David McKinley say they want the government to come up with a new formula to determine the payments Social Security beneficiaries receive.