Tag: cost-of-living adjustments
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 of 2023 over the third quarter of 2022. Some bemoan that this year’s COLA is…
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 a wonderful feature of our Social Security program – has been particularly valuable over t…