2023 Cola
The 2022 cola of 5.9 percent increased the average retirement benefit by $92 a month. This would boost the typical benefit to $1,802 a. Predictions and estimates the social security cola will not be released until october, but if inflation continues at its current pace,. It’s the highest increase in over four.
In 2021, payments grew by an average of $20 a month on the back of a 1.3 percent. But there is a downside. In 2023, retirees will see the biggest boost in their social security checks since 1981. 2023 cola looking like 8.7% + legislation to eliminate the wep and gpo makes it out of house committee.