cost of living adjustment

Cost-of-Living Adjustment Announced For 2022

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The Cost-of-Living Adjustment (COLA) was recently announced, and recipients for Social Security Benefits will expect to receive a 5.9% increase in 2022. This increase includes those who receive disability and retirement benefits from the SSA.  As the highest COLA increase since 1982, this is a historical increase. The average COLA increase percentage over the past…

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COLA Announced at 1.3% for 2021

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People with disabilities who receive SSDI or SSI will soon see their payments increase. 72 million Social Security and Supplemental Security Income recipients will see a 1.3% cost-of-living adjustment (COLA) to their monthly benefits beginning January 1st, 2021, an increase even smaller than last year’s. In 2021, the monthly federal SSI payment standard will be…

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What is the 2020 COLA?

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The Social Security Administration recently announced the cost-of-living adjustment (COLA) will be 1.6% in 2020.  This increase applies to those receiving disability, retirement and veterans’ benefits. What is a COLA and How is it Determined? The COLA was created in order to increase benefits to account for the rising cost of consumer goods and inflation….

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