Biggest Increase in 40-years

The Social Security Administration has just announced that SS recipients would see the greatest annual increase in 40 years. As we reported back in June, the COLA is based on the inflation rate during the three Summer months. It was just announce that the increase will be 5.9% for 2022. The average recipient will see a monthly increase of $92 for a total of $1,657 per month or $19,884 per year. Let’s hope that inflation does prove transitory providing our senior citizens and those receiving disability benefits the opportunity to get ahead just a little bit.

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