Social Security recipients set to receive highest COLA increase in 4 decades
With the US inflation rate reaching its highest point in more than 40 years, Americans who receive Social Security benefits, including SSD, are on pace to receive a cost-of-living-adjustment of nearly 9 percent. What does that mean for you if you are already receiving Social Security Disability? Well, we’ve seen estimates of between 8.6 and…
Read MoreSocial Security announces historic COLA increase for 2023
Social Security recipients will see an 8.7% increase in their benefits beginning January 2023, the Social Security Administration announced today. “The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics,” the SSA said in a press release. Experts…
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