Here's what the White House is expecting today's Social Security COLA increase to be
Alex Gangitano -
(The Hill) — The White House predicted that Americans on Social Security will see a $140 per month increase ahead of Thursday when the Social Security Administration is expected to announce a cost of living adjustment (COLA).
"Tomorrow, seniors and other Americans on Social Security will learn precisely how much their monthly checks will increase – but experts forecast it will be $140 per month, on average, starting in January. For the first time in over a decade, seniors' Medicare premiums will decrease even as their Social Security checks increase," White House press secretary Karine Jean-Pierre said in a statement.
The COLA is expected to change by at least 8 percent, which would be the largest increase in four decades. The annual adjustment is determined by inflation, which fell to 9.1 percent and 8.6 percent in July and August, respectively.
READ MORE: Here's what the White House is expecting today's Social Security COLA increase to be Alex Gangitano -
https://www.msn.com/en-us/money/retirement...
Posted By: Dea. Ron Gray Sr.
Thursday, October 13th 2022 at 7:04PM
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