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The average Social Security COLA from 1975 to 2023 was 3.8%. However, the sky-high inflation in the 1970s and early 1980s skews this average somewhat. The median Social Security COLA during the ...
Since the modern method of determining the Social Security COLA went into effect in 1975, the average has been 3.77%. This is the result of adding all the historic COLAs since that time and ...
Between 1975 and 2023, Social Security's COLAs averaged 3.8%. Of course, that's just the average. There were some years with 0% increases (most recently, 2015) and some with double-digit increases ...
Disability recipients Survivors benefits Retired Social Security In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). [1]
As a result of the 2008 financial and mortgage crisis, a hefty 5.8% increase in COLA was applied in 2009, the most significant increase that Social Security benefits had seen since 1982.
On Oct. 13, 2022, the Social Security Administration announced that the annual cost-of-living adjustment for Social Security benefits in 2023 would be 8.7%. While on the surface it may seem like...
Image source: Getty Images. Back in December 1994, the average monthly benefit was just $697.34, adding up to about $8,368 for the year. Fast forward to November 2024, and the average retired ...
Source: Social Security Administration. Chart by author. For some perspective, the average COLA since 1975 is 3.75%. The highest-ever COLA was 14.3% in 1980. In 2010, 2011, and 2016, there were no ...