Cola For 2023
The 2023 social security cola will be announced thursday, the same day the us bureau of labor statistics will releases cpi information for september 2022. The consumer price index for urban wage earners & clerical workers is used by the social. The first check social security beneficiaries receive in 2023 will show an 8.7% increase in benefits, known as a cost of living adjustment, or cola. Though 8.7% is a historically high adjustment —.
16 rows federal retirees and social security recipients are about to get the largest increase in their. It’s the highest increase in over four. Social security benefits and supplemental security income (ssi) payments for approximately 70 million americans will increase by 8.7% in 2023. A 9 percent cola would boost the average social security retirement benefit by about $150 a month in 2023.