The Economic Times

What is the proposed $2,400 Social Security increase? Is it separate from the annual COLA, and when could beneficiaries actually receive the extra $200 each month?

Have you heard about Senator Bernie Sanders proposal for a new Social Security hike? His plan would add $200 to monthly benefits, which comes to an extra $2,400 a year. The increase would be paid on top of regular Social Security benefits and the annual COLA. There is a catch, Sanders proposal is still a bill, so the extra money is not being paid yet.