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The new payment amounts in 2023 will reflect an increase of 8.7%, which is the highest adjustment the Social Security Administration has offered since 1981 and is the fourth biggest COLA in the ...
The 8.7% increase in the Social Security COLA for 2023 is the highest since an 11.2% hike in 1981. ... the tax rate hasn’t changed in years, but the amount of income subject to it increases ...
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 ...
According to the Social Security Administration (SSA), more than one in four 20-year-olds will develop a disability before they reach retirement age -- and if it meets the SSA's strict definition ...
For the last 10 years or so, Social Security has been a fairly static program, with few major changes. But when inflation makes big news, so too does Social Security. ... The 5.9% increase in the ...
Social Security took center stage last week when the retirement program announced that beginning in 2023, beneficiaries will see their biggest payment increase in 41 years. For that, they can ...
The latest COLA is a record 8.7% bump, taking into account the rampant rates of inflation that have been affecting Americans all year. As noted by CBS, the last time Social Security saw this kind ...
The group’s latest COLA estimate is well below earlier estimates this year — estimates that projected a Social Security increase as high as 10.5% in 2023. However, even an increase of 8.7% ...