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Understanding Cost-of-Living Adjustments
The annual Social Security cost-of-living adjustment (COLA) process is a component of the program generally understood by most current and future beneficiaries. The premise that COLA reflects inflation is part of this general understanding, of course, but the mechanics may not be clear to some. A post by Baseline.com author Adam Campbell titled “Understanding the impact of COLA on Social Security benefits” may provide some additional insights for those having questions on how the COLA process fits in the total Social Security picture. Check out his post here.