— SocialSecurity_Press (@SSAPress)October 12, 2023 "What we are hearing from our surveys is the household budgets went up by more than the amount of their COLA — that is what is worrying people today," said Mary Johnson, Social Security and Medicare policy analyst at the Senior Citizens...
That will mark the smallest COLA since 2021, when seniors received a 1.3% adjustment due to the pandemic's low rate of inflation. Because inflation surged in 2022 and 2023, Social Security provided unusually large COLAs for those years, at 5.9% and 8.7%, respectively. Seniors received a ...
Meanwhile, the Senior Citizens League issued this statement: "The 3.2% Social Security cost of living adjustment (COLA) for 2024 announced today by The Social Security Administration is well above the 2.6% average over the past 20 years, but a new retirement survey by The Sen...
(NEXSTAR) – Social Security recipients are getting a 3.2% increase to their monthly benefits come next year. On Thursday morning, the Social Security Administrationofficially announcedits annual cost-of-living adjustment (COLA) for beneficiaries starting in 2024. The bump, at 3.2%, is among some...
The Social Security Administration is expected to announce the COLA for 2025 on Thursday. In contrast, Social Security beneficiaries saw a 3.2% increase to benefits this year. In 2023 and 2022, beneficiaries saw the biggest boosts to benefits in four decades, with COLAs of 8.7% and 5.9...
Comprehensive and meticulously documented facts about Social Security. Learn about Social Security's taxes, benefits, financial status, reform options, and more. For example: • Taxable Maximum • Causes of Fiscal Problems • Old-Age Benefits • “Looting the Trust Fund” • Personal Ownersh...
Mark Huffman, Reporter • Sep 14, 2023 Thanks to a jump in August’s Consumer Price Index (CPI), the estimated 2024 cost of living adjustment (COLA) for Social Security recipients rose slightly, according to The Senior Citizens League. The League estimates the 2024 COLA will be 3.2%, ...
What Will the Social Security COLA Raise Be for 2025? How Much Would Future Benefits Be Cut? If Congress doesn’t act, program income won’t be enough to pay benefits beginning in 2034. According to the nonpartisan think tankCommittee for a Responsible Federal Budget, annua...
The dangerous statementreads this way: “When a worker dies, we recommend that their survivors apply for benefits right away. You can apply by telephone or at any Social Security office. For more information about survivors benefits, visitwww.socialsecurity.gov/survivors. If you think you qualify...
In 2024, the maximum Social Security disability benefit for a disabled worker receivingSocial Security Disability Insurance (SSDI)is $3,822 per month, according to the Social Security Administration (SSA). That figure will rise in 2025 due to acost of living adjustment (COLA), as the SSA anno...