WASHINGTON (AP) — Millions of retirees who receive Social Security benefits will see a 2.5% cost-of-living increase to their monthly checks beginning in January. That word comes Thursday from the Social Security Administration. Agency officials say the cost-of-living adjustment, or COLA, for retirees translates to more than $50 more on average per retiree every month. About 72.5 million people, including retirees, disabled people and children, get Social Security benefits. The agency’s commissioner says the cost-of-living adjustment will provide a measure of relief for recipients as inflation has cooled. But Martin O’Malley’s message to those who feel the increase isn’t enough is that “they’re not wrong.”