Tag: Social Security COLA
For several years before the pandemic, everyone became complacent about an inflation rate hovering reliably around 2 percent. We were jolted from our torpor by the COVID spike in inflation to nearly 9 percent. Although inflation has come down sharply, the 3 percent rise over the past year is still above pre-pandemic levels. Higher…
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…
