The average Social Security payment for retired workers reached $2,000 for the first time ever, according to a report released by the Social Security Administration (SSA) this week.
For retired workers, the average monthly payment stood at $2,002.39, up 4.5 percent from $1,916 a year earlier, according to the data.
The $2,000 check milestone applies only to retired workers, who comprise 75 percent of the more than 69 million people who receive Social Security benefits. The average monthly benefits for people, including those who are not retired workers, stood at $1,857.75 in May, the snapshot data show.
Supplemental Security Income (SSI) payments in May averaged out to around $718.30 for all 7.4 million or so SSI recipients, it shows….