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It's official: Social Security benefits will receive a 2.5% cost-of-living adjustment (COLA) in 2025, the smallest percent increase in payments since 2021. That means the average retired worker ...
Read on to see the 10 states in which retired workers will receive the smallest COLAs in 2025. Two Social Security cards intermixed with U.S. currency arranged haphazardly. Image source: Getty Images.
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
With another year in the books, Social Security retirees will look ahead to 2025. Retirees will receive a 2.5% cost-of-living adjustment (COLA), the smallest in four years because inflation ...
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 ...
For retirees receiving the current average benefit of $1,927, the coming increase will result in a new average benefit of $1,976, so checks will go up by around $49.
Medicare hasn't announced how much more premiums are going to be in 2025 yet, but some estimates suggest they're likely to increase from the current $174.70 in 2024 to $185 per month in 2025.
For instance, the CPI-W increased 2.5% in the third quarter of 2024, which means Social Security benefits will get a 2.5% COLA in 2025. That means the average retired worker will receive an extra ...