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Under terms of the bill, anyone who is a current Social Security recipient or who will turn 62 in 2023 would receive an extra $200 in each monthly check. The bill is timely for a couple of reasons.
The Social Security Fairness Act, which would increase benefits for 2.8 million retirees, has bipartisan support but time running out.
Once signed into law, the legislation's effective date involves Social Security payments for months after December 2023, according to the text of the bill. Still, calculating what folks are due ...
The big news for 2023 is an 8.7% jump in the Social Security COLA, which is the highest since an 11.2% increase in 1981. ... The average monthly Social Security payment for all retired workers has ...
For most Social Security recipients, the biggest change set to take effect in 2023 is an 8.7% cost-of-living adjustment — the highest in 41 years. But that’s far from the only change heading ...
The new payment amounts in 2023 will reflect an increase of 8.7%, which is the highest adjustment the Social Security Administration has offered since 1981 and is the fourth biggest COLA in the ...
A new year means a new schedule of Social Security payments for the 66 million beneficiaries who are enrolled in the program.. Social Security: Why Not Everyone Will Get An 8.7% COLA Increase in ...
A COLA of 3.2% would add an extra $57.39 a month to the average Social Security retirement benefit, which was $1,793.51 a month as of September 2023. ... Social Security and SSI benefits, then ...