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Learn about the Social Security COLA projection for 2025, including what it is, how it's calculated and what it means for your retirement.
In 2023, retirees received a Social Security increase of 8.7%. It was the largest annual cost-of-living adjustment (COLA) in four decades.
A COLA of 3.2% would add an extra $57.35 a month to the average Social Security retirement benefit, which was $1,792.37 a month as of August 2023.
The Senior Citizens League said Wednesday that the Social Security cost of living adjustment, or COLA, will likely be 3.2% for 2024. That would add about $57 to monthly benefits, raising them to ...
The higher benefit could also increase the tax burden and reduce government benefits for lower-income retirees. And it complicates the outlook for Social Security for everyone else.
A new bill has been introduced in Congress that would increase the annual cost of living adjustment (COLA) for retired federal employees under the Federal Employees Retirement System (FERS) in some...
The Social Security Administration, the federal government agency that oversees the benefits, announced a 8.7% increase in the Social Security cost-of-living adjustment (COLA) for 2023.
The increase would be part of the regular Cost of Living Adjustments (COLAs) that the Social Security Administration (SSA) enacts after assessing the widespread effects of inflation on necessities.
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