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Data source: Social Security Administration. Table by author. You might have noticed the amount of the COLA was 0% in three years: 2009, 2010, and 2015.
The U.S. Social Security Administration announced Friday that beneficiaries will receive a 2 percent cost-of-living adjustment, or COLA, next year. 2018 Social Security bump is biggest in 6 years ...
This wasn't just an arbitrary date I picked to calculate a long-term average. 1975 was the first year when Social Security COLAs were based on Consumer Price Index (CPI) inflation data.
As a result of the 2008 financial and mortgage crisis, a hefty 5.8% increase in COLA was applied in 2009, the most significant increase that Social Security benefits had seen since 1982.
Social Security is arguably the most important social program for seniors -- here are a few important changes to expect in 2018.
Source: Social Security Administration. Table by author. In 2024, the adjustment was 3.2%. So, for example, if you're collecting $2,000 per month in Social Security benefits, you would have ...
The average 2.6% COLA would amount to a raise of just under $50 per month. While that can be helpful, it likely isn't enough to combat soaring inflation. Benefits are losing buying power
The big news for 2023 is an 8.7% jump in the Social Security COLA, which is the highest since an 11.2% increase in 1981. The COLA’s steep hike this year is due to the soaring inflation rate ...