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Social Security benefits received a 2.5% cost-of-living adjustment (COLA) in 2025, but for many retirees, this is not enough to keep up with rising prices. Their monthly checks don't go as far as ...
For instance, CPI-W inflation increased 2.5% in the third quarter last year, so Social Security payments increased 2.5% this year. That is the smallest COLA since 2021.
Social Security has two other funding sources: benefit taxes on some seniors and interest income earned on money in the program's trust funds. But both of those are in danger right now. The ...
Taxing income above $400,000 per year: Right now, only income up to $176,100 per year is subject to Social Security taxes. Taxing those at higher incomes would increase Social Security's cash flow ...
The $ 22,924 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known ...
The list below comes from the 2024 statistical supplement. It details the 10 states with the highest median monthly Social Security benefit for retired workers, as of December 2023. New Jersey: $2,100
The Social Security Administration (SSA) doesn't want that to happen, which is why automatic COLAs were introduced in 1975. Social Security cards. Image source: Getty Images.
1. The 2025 Social Security COLA. Social Security beneficiaries are getting a 2.5% cost-of-living adjustment, or COLA, starting with the payment they receive in January 2025. As of the latest data ...