In June, the number of Americans who received Social Security benefits ticked up by 20,000.
Thousands of beneficiaries were added to the Social Security system last month, data from the administration showed.In June, there were nearly 67.9 million recipients of Social Security benefits, about 20,000 more than in May. June saw $120.9 million paid to beneficiaries after May registered $120.66 million in payments. The average monthly outlays, however, barely changed to $1,781 last month from $1,778 in May.
But that would not mean that benefits will cease abruptly, according to Steve Goss, the Social Security Administration's chief actuary.More From Newsweek Vault: Rates Are Still High for These High-Yield Savings Accounts'We're projecting at that point in time, if we have used up our trust fund reserves, the continuing income will be equivalent to 80 percent of what we need to pay the full scheduled benefits on a timely basis,' Goss said last year.
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