Social Security Benefits Will Jump 8.7%. That’s the Biggest Raise in More Than 40 Years.

The Social Security Administration announced the highest cost-of-living adjustment to benefits since the early 1980s. This is a good news/bad news story: Good because most people will receive an average raise of 2.8%, but bad because making up for rising costs is going to be harder than ever on retirees and those nearing retirement.

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Source Article: https://www.barrons.com/articles/social-security-cola-increase-51665590033

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