COLA
The “Average” Social Security Benefit…For What It’s Worth
It’s fairly typical for people to want to see where they stand in relation to those around them, and when it comes to looking at Social Security benefits, that’s probably true. A post today by The Motley Fool’s Maurie Backman…
Senior Citizens League pushes for More Effective COLA Process
It hasn’t really changed since cost-of-living adjustments (COLA) became a reality nearly 50 years ago, and the projected 2024 announcement was again based on use of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), a statistic that…
CPI-E vs. CPI-W? A Look at What the Diffrerence would be.
The issue of how best to calculate the annual cost-of-living adjustment (COLA) for Social Security beneficiaries has surfaced as part of the discussion on reforming this massive senior benefit program, and some have advocated for an approach that better fits…
2024 COLA: Don’t forget about Medicare premiums!
The 2024 Social Security cost-of-living adjustment (COLA) announced last week has garnered quite a bit of attention in the media, both positively (it will help beneficiaries recover some of the ground lost to inflation) and negatively (the 3.2% bump is…
Want to know your new benefit amount before your notice arrives?
(Special Notice from Social Security Administration) Starting in early December, you will be able to securely view and save your Social Security COLA notice online via the Message Center inside my Social Security. Make sure you are signed up for notifications…
Breaking News: COLA 2024 Announced
The Social Security Administration announced a cost of living adjustment (COLA) on October 12, 2023, of 3.2%. This means that effective with the January 2024 payment, one receiving a near average benefit of $1,800 per month will soon receive $1,858…
Mark your calendars
Mark your calendars; the Social Security Administration will announce the 2024 cost-of-living adjustment on Thursday. However, Social Security recipients should see a significantly lower increase than last year’s 8.7 percent. Based on August inflation data, Mary Johnson of the Senior…
Another important date for retirees
On October 12th, the Social Security Administration will announce the 2024 cost-of-living adjustment (COLA). However, there is another day that will be just as important. It is the day the Centers for Medicare and Medicaid Services (CMS) announces the 2024…
Where will you be on October 12th?
Are you waiting for October 12, 2023, at around 8:30 a.m.? If so, you are not alone. More than 67 million Social Security recipients will be waiting to hear the Social Security Administration announcement of the 2024 cost-of-living adjustment. However,…
Some of Social Security’s rules change every year
Around October 12th, the federal government will announce some of the new Social Security rules for 2024. Among those new rules will be the 2024 COLA, a higher wage cap for tax purposes, and a higher earnings threshold for earned…