Social Security: Estimate for 2023 COLA Pushes Into Double Digits After Latest Inflation Report
'...If that happens, it will be the first time the COLA has reached double digits since it hit 11.2% in 1982, according to the Social Security Administration. This year’s COLA of 5.9% is the highest since 1981. As recently as last year the COLA was only 1.3%. If inflation runs “hot” — or higher than the recent average — the 2023 COLA could be 11.4%, said Mary Johnson, the Senior Citizens League’s Social Security and Medicare policy analyst. That would be the second-highest COLA since the SSA began ...'
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