and the percent increase becomes the COLA in the subsequent year. For example, the CPI-W increased 3.2% in the third quarter of 2023, so Social Security benefits increased 3.2% in 2024.
FY1984, and FY1985. The FY1983 COLA was effective April 1 rather than March 1. The FY1984 COLA was scheduled for May 1 and the FY1985 COLA was scheduled for June 1. This law also mandated that nondisabled retirees under the age of 62 would receive 50...
This year’s COLA is based on the cost-of-living increase from December 2022 to December 2023, as reflected in the Bureau of Labor Statistics Consumer Price Index (CPI) for all urban consumers in the Los Angeles–Long Beach–Anaheim metro area. The calendar year-to-date CPI change is 3.5...
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2023 8.7% 2022 5.9% 2021 1.3% 2020 1.6% 2019 2.8% 2018 2% 2017 0.3% 2016 0% 2015 1.7% Source: Social Security Administration. Chart by author. For some perspective, the average COLA since 1975 is 3.75%. The highest-ever COLA was 14.3% in 1980. In 2010, 2011, and 2016, there wer...
This year’s COLA is based on the cost-of-living increase from December 2022 to December 2023, as reflected in the Bureau of Labor Statistics Consumer Price Index (CPI) for all urban consumers in the Los Angeles–Long Beach–Anaheim metro area. The calendar year-to-date CPI change is 3.5...
This year’s COLA is based on the cost-of-living increase from December 2022 to December 2023, as reflected in the Bureau of Labor Statistics Consumer Price Index (CPI) for all urban consumers in the Los Angeles–Long Beach–Anaheim metro area. The calendar year-to-date CPI change is 3.5...