COLA

Social Security and You

Social Security COLA for 2023

In mid-October every year, the Bureau of Labor Statistics releases its much-anticipated report on changes (usually increases) to the Consumer Price Index over the past 12 months. Why is this little, esoteric government report — actually called the Consumer Price Index for Urban Wage Earners and Clerical Workers — so popular? Because for the past

Social Security

Social Security benefits to jump by 8.7% next year – Associated Press

Photo: Paul Phelps, 76, of Alexandria, Va., works in the genealogy room at Hollin Hall Senior Center in Alexandria, Va. Millions of Social Security recipients will get an 8.7% boost in their benefits in 2023, a historic increase but a gain that will be eaten up in part by the rising cost of everyday living.

Social Security and You

A COLA Gift From Congress Few Seniors Know About

I wonder if any of my readers have thought about this. Why did you get the 2022 cost-of-living increase in your January Social Security checks? After all, that check you get in January is the Social Security payment for December. In other words, you get your first 2022 COLA increase in your December 2021 Social

Social Security

Social Security Announces 1.3 Percent Benefit Increase for 2021

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3 percent in 2021, the Social Security Administration announced today. The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Increased payments to more than 8 million SSI