By Edward Cates, Chairman, TSCL It’s already February, which means that this year’s tax deadline of April 15 is just a few short weeks away. For many Social Security recipients, especially people who have just starte ...
Category: Cost of Living Adjustment (COLA) Articles
Cost-of-Living Adjustment for 2024 Could Be 3.1%
Press Briefing 5.10.23 Research on the buying power of Social Security benefits by The Senior Citizens League (TSCL) confirms that inflation is moderating. But a lower inflation rate has not necessarily meant that pri ...
How Long Will Inflation Continue? Expect to See Rising Costs in These Five Categories
By Mary Johnson, editor Will the 5.9% cost-of-living adjustment (COLA) be enough to meet rising costs in 2022? Will Social Security recipients receive a big enough boost next year in order to afford groceries for the ...
Part B Premiums Rise 14.5%— Social Security 5.9%
In January, the Social Security checks of more than 69 million beneficiaries will rise by 5.9%. That cost- of - living adjustment (COLA) will increase an average monthly retiree benefit of $1,565 by $92 per month — far ...
How a High COLA Really Impacts Social Security Income
By Mary Johnson, editor Now that the Social Security Administration has confirmed that Social Security benefits will increase by 5.9% in January of 2022, what’s next? Several factors play an important role in determi ...
Buying Power of Social Security Benefits Plummets in 2021
Soaring inflation has deeply weakened the purchasing power of Social Security benefits in 2021, according to TSCL’s latest update on rising senior costs. The study, which compares the growth in the Social Security cost- ...
Social Security Benefits to Increase 5.9% for 2022
Social Security recipients will receive a 5.9 % cost-of-living adjustment (COLA) effective January 2022 — the highest in 40 years. The high COLA comes as more than 62 million retired and disabled Americans have spent mu ...
Benefit Bulletin: September 2021
Most Look Forward to Boost; Low-Income Retirees Worry Benefits Could be Trimmed By Rick Delaney, Chairman of the Board We have been hearing from hundreds of you who are watching the inflation numbers and eagerly lo ...
COLA Estimated to Be 6% to 6.1% For 2022
By Mary Johnson, editor The Social Security cost-of-living adjustment (COLA) for next year is likely to be the highest seen by retirees since 1982. Based on the most recent CPI data through August, I estimate that th ...
Your Social Security Benefits Buying Less
By Mary Johnson, editor Rapidly climbing prices for consumer goods and services are making financial choices for older adults especially challenging this year. But eventually, these higher prices might mean a higher ...
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