Social Security recipients could get biggest cost-of-living bump in decades

Business

WJW FOX 8 News Cleveland 14 July, 2021 - 11:22am 23 views

What is the COLA for 2022?

The annual cost-of-living adjustment, or COLA, for Social Security benefits in 2022 — usually announced in October — could be 6.1%, the highest since 1983, based on Tuesday's Consumer Price Index announcement, according to Social Security and Medicare policy analyst Mary Johnson of the Senior Citizens League, which ... BenefitsProSocial Security COLA estimate for 2022 raised to 6.1%

Social Security COLA Estimate for 2022 Raised to 6.1%

ThinkAdvisor 14 July, 2021 - 10:01am

Social Security COLA Estimate for 2022 Raised to 6.1%

by Ginger Szala

“This is the highest COLA I’ve ever estimated in my 26-plus years of researching the annual inflation adjustment,” Johnson told ThinkAdvisor.

Listen to free podcasts to get the info you need to solve business challenges!

The CPI-E uses the same formulas and prices as the CPI-W but puts more weight on expenditures typical of those 62 and older. COLAs using this index would be 0.2 percentage points higher on average, the Social Security Office of Chief Actuary reported in 2011.

Big cost-of-living hike coming for Social Security recipients

Atlanta Journal Constitution 14 July, 2021 - 08:11am

Business Stories