COLA 2023
Judging COLA’s Adequacy
Much has been written about the annual Social Security cost-of-living adjustment process, from explaining how the formula works to opinions on its effectiveness in keeping seniors above poverty lines. With the 2025 benefit increase coming in at 2.5%, down from…
Remember to figure in Medicare into your equation
The Social Security Administration announcement of the 2.5 percent 2025 cost-of-living adjustment (COLA) has some people calculating their increase to their monthly benefit amount before they know one other increase that is due to be announced. What is this other…
Another Indictment of Social Security’s COLA and its Inadequacy
Sure, the 8.7% cost-of-living adjustment showing up beginning this month in beneficiaries’ monthly payments is welcomed relief, but the question of how well it compensates for inflation is subject to frequent questions. In a nasdaq.com post by Bram Berkowitz, the…
The Average 2023 Monthly Benefit–How Do You Compare?
The Motley Fool’s Maurie Backman, in a post on wfmz.com, reports on the 2023 COLA-infused average monthly benefit. As she points out, though, one of the important things to be remembered about the 8.7% bump is that it simply reflects…