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Social Security checks could get a surprise boost after all in 2021
In most years, Social Security recipients receive a cost of living adjustment (COLA) designed to counteract the effects of inflation. Food, energy, and other items that households purchase or consume with regularity are used to determine the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The Social Security Administration uses CPI-W as the basis for its COLA calculations. In Dan Caplinger’s article “ Your 2021 Social Security Checks Could Get a Surprise Boost After All”, he explains how the most recent inflation data showed a countervailing force that’s pushing prices higher – and that could lead to a positive COLA for 2021. Read his article here…
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