Millions of Social Security recipients to get small cost-of-living bump for 3rd straight year
For the third straight year, millions of Social Security recipients, disabled veterans and federal retirees can expect historically small increases in their benefits come January. Preliminary figures suggest the annual cost-of-living adjustment, or COLA, will be less than 2 percent. That translates to a raise of about $20 a month for the typical Social Security beneficiary. The government is scheduled to announce the COLA on Wednesday, when it releases the latest measure of consumer prices. By law, the COLA is based on inflation, which is well below historical averages so far this year….Read More
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