Headlines
Yet Another View of the 2022 Social Security COLA
As we mentioned in yesterday’s headline post, and as was highlighted in a headline post last week, the 5.9% cost-of-living-adjustment scheduled to take effect in January will be a welcomed infusion of cash for beneficiaries, but it needs to be remembered…
Social Security’s 2022 COLA: A Tale of Good and Bad
Social Security beneficiaries are looking forward to January and the added 5.9% cost of living adjustment (COLA) in their monthly payments, undoubtedly a welcomed boost to millions of older Americans. It’s an uncommonly large increase. In fact, since the turn…
Retire Early With No Regrets
Reshma Kapadia of Barron’s explains the recent wave of retirements by people not yet eligible for Social Security. The main reason for them is that the economic downturn due to Covid-19 was brief and came amid booming stock and real estate markets. She…
The National Average Wage Index and Calculating Social Security Benefits
Lorie Konish explains the National Average Wage Index (AWI) in this informative piece. The AWI has increased every year from 1951 to 2008 with the exception of 2009 when it declined by 1.5% due to the financial crisis. This lowered benefits for those who became eligible…
A look back at Social Security’s indexing benefits to inflation
How have Social Security benefits changed over the past few decades? Social Security payments have been automatically indexed to inflation using cost-of-living adjustments (COLAs) since Congress put the change into law in 1975. Before that lawmakers had to wrangle over how much…
A Raise That Isn’t and a “New Normal” Few Like
The Social Security Administration announced on October 13th that the cost of living adjustment (COLA) for 2002 will be 5.9%. That’s the highest in 40 years. So why aren’t seniors popping the champagne corks? Simple. It’s not a raise at…
Social Security Benefits Might Get Cut Early — What Does That Mean?
Vance Cariaga addresses the hype that surrounded the release of news that Social Security’s trust funds are due to be depleted one year earlier, now to be 2034. As she notes if Congress fails to address the program’s long-term funding shortfall, the…
Claiming Social Security at 62 makes sense
Claiming your Social Security benefits at age 62 is the earliest you can sign up for Social Security and the most popular age. About 34 percent of women and 31 percent of men signed up for Social Security at 62.…
The largest cost-of-living adjustment in 40 years
On October 13th, the Social Security Administration announced the largest cost-of-living adjustment (COLA) in 40 years. The 5.9 percent will be applied to benefits starting January 2022, even if you have not yet filed for your Social Security benefits; anyone…
Social Security Benefits Increase in 2022
(October 13, 2021 • By Darlynda Bogle, Acting Deputy Commissioner for Communications) Approximately 70 million Americans will see a 5.9% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2022. Federal benefit rates increase when the…