Tag: cost-of-living adjustments
Cost-of-living adjustment makes sure the backbone of our retirement system keeps pace with rising prices. With the release of the September CPI-W inflation number, the Social Security Administration announced that the COLA for 2024 will be 3.2 percent (see Figure 1). The adjustment is based on the increase in the CPI-W for the third quarter…
Much lower than previous years, but COLA has fully protected retirees against ravages of inflation. The speculation seems to start earlier every year. I just got my first press call regarding the likely magnitude of Social Security’s cost-of-living adjustment (COLA) for 2024. This automatic indexing of benefits to keep up with rising prices – always…