Average Social Security Check for Retirees Reaches $2,000 for First Time

The update comes as a new estimate found that the cost-of-living adjustment for payments is slated to increase to 2.5 percent.

Blank U.S. Treasury checks are run through a printer at the U.S. Treasury printing facility in Philadelphia on July 18, 2011. William Thomas Cain/Getty Images

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.