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Social Security
Social Security Beneficiaries Receive 2.6% COLA Increase in
2002
Social Security Administration Acting Commissioner Larry
Massinari announced Friday, October 19th that monthly Social Security and Supplemental
Security Income (SSI) benefits to more than 50 million Americans will increase
2.6 percent in 2002. For Social Security beneficiaries, the average monthly
benefit amount for all disabled workers will rise from $794 to $815. The maximum
federal SSI monthly payment to an individual will rise from $531 to $545. The
Substantial Gainful Activity (SGA) level for people with disabilities will increase
from $740 to $780 per month; for blind beneficiaries, SGA increases from $1,240
to $1,300 per month. Social Security and SSI benefits increase automatically
each year based on the rise in the Consumer Price Index. A fact sheet on 2002
Social Security changes is available at
http://www.ssa.gov/pressoffice/colafacts2001.htm