Retirees may be in line for the biggest boost in
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Posted On: 09/14/2022 12:07:41 PM
Retirees may be in line for the biggest boost in their Social Security checks in four decades.
The cost-of-living adjustment, or COLA, for 2023 could be 8.7%, according to a new estimate from The Senior Citizens League.
That would be the highest bump since an 11.2% adjustment in 1981 and would amount to an average monthly increase of $144.10.
It would be the highest increase ever received by most Social Security beneficiaries alive today, the nonprofit said. Its estimate is based on the latest inflation data through August, and the Social Security Administration is expected to announce the 2023 COLA next month, when September’s inflation data is released.
https://www.newsnationnow.com/business/your-m...n-decades/
The cost-of-living adjustment, or COLA, for 2023 could be 8.7%, according to a new estimate from The Senior Citizens League.
That would be the highest bump since an 11.2% adjustment in 1981 and would amount to an average monthly increase of $144.10.
It would be the highest increase ever received by most Social Security beneficiaries alive today, the nonprofit said. Its estimate is based on the latest inflation data through August, and the Social Security Administration is expected to announce the 2023 COLA next month, when September’s inflation data is released.
https://www.newsnationnow.com/business/your-m...n-decades/
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