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Average retiree will see Social Security benefit decrease The Social Security Board of Trustees is pushing for a 0.2% increase in the cost-of-living adjustment for retiree benefits in 2017, CNBC reports. The Medicare Board of Trustees has also issued a report that calls for a 22.3% increase in the Medicare Part B premium. The proposed increases could result in reduced benefit payouts because of automatic premium deductions from retirees' benefits. Retirees on Social Security who earn an income below the national average will not be affected by the increase in Medicare Part B premiums under the Hold Harmless Act.

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