Benefits could increase by 4.7 percent next year? - Forbes
The Social Security cost-of-living adjustments (COLA) are generally announced in October and helps offset your loss of purchasing power due to the effects of inflation. Cost-of-living adjustments are typically equal to the percentage increase in the consumer price index for urban wage earners and clerical workers (CPI-W) for a specific period. In David Rae’s article for Forbes.com, he reviews how the Social Security COLA is determined and the possible increase for next year. Read Mr. Rae’s article here…
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