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A working estimate of next year’s COLA
Do you know how the Social Security Administration calculates the annual cost-of-living adjustment? The simplistic version: Based on changes to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the third quarter of the year, from July to September. The bigger the difference between this and the inflation rate for the previous year, the higher the Social Security COLA will be. Maurie Backman explains what seniors should know about the 2025 Social Security COLA announcement. Read Ms. Backman’s article here…
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