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Comprehensive and meticulously documented facts about Social Security. Learn about Social Security's taxes, benefits, financial status, reform options, and more.
Still, there are several months until the Social Security Administration announces its 2024 adjustment in October. The agency bases its COLA on the percentage increase in the CPI-W in the third quarter compared with the prior year. If there's no increase between the two figures, there's no ...
As the Social Security Administration spells out, “a COLA effective for December of the current year is equal to the percentage increase (if any) in the CPI-W from the average for the third quarter of the current year to the average for the third quarter of the last year in which a C...
How does Social Security calculate the COLA? The reason a COLA that could run lower than the current rate of inflation comes down to how the figure is calculated. First, the Social Security Administration relies on an inflation index that's slightly different than the main CPI that the Federal...
The increase is based on the July through September inflation rate 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 Cit...
It’s been ten days since the Social Security annual report to Congress has come out. I’ve been waiting for the devotees of SS to write something cheery about the report. For the most part the cheerleaders have been silent. That’s with good reason. The report stunk. There’s nothing...
Follower growth rate is a percentage that shows you how quickly your audience is actually growing—or slowing—within a certain time period. Here’s how this is calculated: (Followers you gained in a specific time / the initial number of followers you had prior to that gain) x 100 For exa...
Here is an example of how the Social Security limit works: Social Security Tax Limit Example Change in taxes paid from 2022 to 2023. History of Social Security Tax Limits The Social Security tax rate rarely changes, as employees have been paying 6.2% since 1990; however, unlike the tax rate...
The Social Security Administration projects the poverty rate for beneficiaries age 60 and older would leap from 4.8% in 2033 to 8.1% in 2034 as a result of such a cut to benefits. (This data is from 2023 with a later estimate of Social Security being depleted).Of course, all future ben...