The projected increase is not yet official, as the Social Security Administration typically determines the following year's COLA in mid-October. A 2.5% rise would translate into an average monthly benefit of $1,968, and show up in most recipients' January benefit check. ...
The timeline to replenish Social Security is being extended. The federal retirement program said Monday it may not need to cut benefits until 2035, one year later than previously forecast, because of stronger performance by the U.S. The new projection, from the Social Security Board of Trustees...
The Social Security Administration sets its yearly COLA based on inflation during the third quarter, or from July through September. The agency takes the average inflation rate over that period from what's known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W,...