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Last year, the cost-of-living adjustment, or COLA, was significantly lower, at just 3.2%. With that in mind, what would be considered a "typical" Social Security COLA?
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.
So, the cumulative COLA in the last two years should have been 6.8%, but benefits only increased 5.8%. For context, the average retired worker received $1,905 per month in December 2023.
Next month is going to be a big one for retirees, as the Social Security Administration (SSA) will announce the upcoming cost-of-living adjustment (COLA) for 2025.. The announcement is currently ...
Driven by stagflation and the energy crisis, 1980 was the single most impacted year, and due to double-digit inflation rates, it saw a record-breaking 14.3% COLA increase. During this period ...
Type of Beneficiary. December 2024 Average (Includes COLA) November 2024 Average (Before COLA) Monthly Difference. Retired workers. $1,975.34. $1,925.46
With another year in the books, Social Security retirees will look ahead to 2025. Retirees will receive a 2.5% cost-of-living adjustment (COLA), the smallest in four years because inflation ...
Social Security benefits are adjusted annually to account for inflation in the previous year. For instance, retirees and other beneficiaries will receive a 2.5% cost-of-living adjustment (COLA) in ...