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When calculating the cost-of-living adjustment, the Social Security Administration (SSA) uses only the trailing 12-month readings ending in July, August, and September (the third quarter). If the ...
The Social Security Administration announced this important change The Oct. 10 Social Security announcement related to the cost-of-living adjustment, or COLA. COLAs are increases in benefits that ...
The Social Security Administration announced benefit checks will rise 2.5% in 2025. ... so annual changes to the program and its ... The SSA has linked COLA adjustments to the Consumer Price Index ...
The Social Security COLA is an annual ... The amount of the annual COLA is calculated using an inflation metric called the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W ...
Data source: Social Security Administration. As shown above, CPI-E inflation averaged 3.4% through the first eight months of 2024. That is three-tenths of a percent above the average CPI-W reading.
If the price index shows inflation, then retirees get a benefits increase so their buying power does not change. The 2.5% COLA that Social Security recipients will get in 2025 will result in the ...
Unless the U.S. government’s September 2023 inflation report drops some kind of unforeseen surprise, you can expect the 2024 Social Security cost-of-living adjustment (COLA) to be somewhere in ...
The average Social Security check is $1,783.55 as of September 2024, according to data from the Social Security Administration. Individual benefits vary and could be more or less than the average ...