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COLA Watch for 2024
Everyone’s waiting with bated breath for the cost of living adjustment (COLA) to be announced around October 12th or 13th by the Social Security Administration. The expected amount will likely seem paltry compared to 5.9% in 2022 and the 8.7% COLA for the current year 2023. Trevor Jennewine explains how the somewhat mysterious CPI-W calculation is arrived at. Crunching the numbers and filling in the last bit of incomplete information suggests the increase for beneficiaries will be 3.2%. Full piece here.
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