Tag: inflation
The formula for calculating Social Security benefits recognizes that it’s more difficult for lower-paid workers to afford retirement. Their future retirement benefits will replace a higher percentage of their earnings than, say, a corporate executive will receive. But workers in similar jobs who live in expensive coastal cities are at a disadvantage: steep housing costs…
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…
