CALCULATED PROPERLY, THEY'D HAVE THEIR CHECKS REDUCED:

Tens of millions of elderly and disabled Americans will see a small bump in their government payments next year, another reflection of a sluggish economic recovery that has kept inflation low.

The Social Security Administration on Wednesday announced a 1.7% annual cost-of-living adjustment, or COLA, for the nearly 64 million Americans who receive federal retirement or disability benefits. The increase would result in about a $22-a-month increase for the average retiree. Increases have been between 1.5% and 1.7% for three straight years.

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