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COLA 2023 – All the Details & Fine Print

Sean Williams explains how that 8.7% cost of living adjustment is calculated for the 66 million Social Security beneficiaries in line to receive it in January 2023. The law that created the automatic yearly increase was passed in 1975, though the CPI-W index used is somewhat arcane, arguably outdated, and often irrelevant as it doesn’t track spending by seniors. Williams breaks down the COLA by different groups of people and explains the double-edged sword that the COLA is in an environment of rising prices. Full piece here.

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