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    The 1.3% increase in Social Security benefits for 2021 will mean the average monthly check rises by $20 to $1,543 per month. However, some seniors on fixed low incomes may still struggle given rising food and medical costs. A nursing home volunteer notes that while the increase helps, it does not make up for lost jobs or rising drug costs that some elderly face. Younger workers are encouraged to plan and save for retirement so as not to rely solely on Social Security.

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    The 1.3% increase in Social Security benefits for 2021 will mean the average monthly check rises by $20 to $1,543 per month. However, some seniors on fixed low incomes may still struggle given rising food and medical costs. A nursing home volunteer notes that while the increase helps, it does not make up for lost jobs or rising drug costs that some elderly face. Younger workers are encouraged to plan and save for retirement so as not to rely solely on Social Security.

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    © All Rights Reserved
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    26 views3 pages

    Split Page Story

    Uploaded by

    api-609293258
    The 1.3% increase in Social Security benefits for 2021 will mean the average monthly check rises by $20 to $1,543 per month. However, some seniors on fixed low incomes may still struggle given rising food and medical costs. A nursing home volunteer notes that while the increase helps, it does not make up for lost jobs or rising drug costs that some elderly face. Younger workers are encouraged to plan and save for retirement so as not to rely solely on Social Security.

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    of 3

    Dominique Stutzki

    Com 161-Section 2
    October 30, 2020 - 9:00 a.m.

    Social Security Increase

    VIDEO AUDIO
    MS anchor (Cody/one-shot) Cody: In January 2021 around 70 million
    individuals who get Social Security will see a
    1.3 percent increase in their benefits to
    represent the increasing average cost of
    living.

    WS entrance to Walmart as people are VO (Cody): That implies the normal month to
    shopping, CU of older couple shopping in the month check for retirees (re-tire-e) will
    produce department increment (in-cra-ment) by 20 dollars to
    LOCATOR-LOWER THIRD CG: 1,543 dollars.
    Morris, Illinois

    MS from the interior of Walmart with older Be that as it may, the extra 20 dollars per
    couple waving and smiling to little children month for some seniors on low fixed salaries
    playing in toy section; CU of older gentleman may not go as far they need, given the
    holding the door open for a woman and her increasing expense of food supplies, monthly
    little girl. bills, and other costs affected by the
    pandemic. The change will equal around 240
    dollars per year for the average retiree.

    MS anchor (Cody/back on camera) Cody: Retired Worker and former nursing


    home volunteer Steve Hicks explains his
    thoughts on the Social Security increase.

    SOT: Steve Hicks Interview SOT: Steve Hicks Interview


    Runs: 0:15 Runs: 0:15
    Out: …in nursing homes.
    “An increase in Social Security benefits does
    NAME – LOWER THIRD CG:
    not make up for the jobs lost during this
    Steve Hicks
    coronavirus pandemic that was a main
    Morris Senior
    source of income for some people. Because
    of the social security increase and the
    pandemic and it not being enough for some
    elderly people, life will be harder for them
    and it will ultimately lead to them being put
    in nursing homes.”
    Out: …in nursing homes.

    WS of Park Pointe Healthcare &


    Rehabilitation Center; MS of senior citizen
    watching television in bed VO (Cody): Many Americans rely on Social
    LOCATOR – LOWER THIRD CG: Security for most of their retirement income,
    Park Pointe Healthcare & Rehabilitation yet the future of the program is posed with
    Center great uncertainties. And right now, senior
    Morris, Illinois citizens are unfairly affected by the health
    risks posed by COVID-19.

    SOT: Steve Hicks Interview


    Runs: 0:15
    Out: …and other necessities.
    Name – LOWER THIRD CG: SOT: Steve Hicks Interview
    Steve Hicks Runs: 0:15
    Morris Senior “I have volunteered for many years and have
    seen how much medicines and drugs cost
    over time. The constant increases aren’t
    enough to keep up with rising drug costs and
    other necessities (nuh-seh-suh-teez).”
    Out: ...and other necessities.
    MS anchor (Cody/back on camera)

    Cody: For now, younger people really take


    the advantage here to plan for retirement
    invest and save your money, so you don't
    have to rely just on social security
    Works Cited

    Davidson, Paul. “Social Security Cost-of-Living Increase to Nudge up Benefits 1.3% in 2021.” USA
    Today, Gannett Satellite Information Network, 13 Oct. 2020, Error! Hyperlink reference not
    valid..

    Jeanne Sahadi, CNN Business. “Social Security Raise: Checks to Increase by 1.3% in 2021.” ABC7
    Chicago, WLS-TV, 14 Oct. 2020, abc7chicago.com/2021-social-security-increase-payment-
    schedule-2020-raise-in-january-for/7030248/.

    Lea, Brittany De. “Social Security Checks to Get 'Extremely Low' COLA Bump in 2021.” Fox
    Business, Fox Business, 13 Oct. 2020, Error! Hyperlink reference not valid..

    Lorie, Konish. “Social Security Cost-of-Living Adjustment Will Be 1.3% in 2021.” CNBC, CNBC, 13
    Oct. 2020, Error! Hyperlink reference not valid..

    Sahadi, Jeanne. “Social Security Checks to Increase by 1.3% in 2021.” CNN, Cable News
    Network, 13 Oct. 2020, www.cnn.com/2020/10/13/success/social-security-checks-
    increase/index.html.

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