Adjustment Archives - DR News - News, Retirement, Finance

Cost of Living Adjustment Predicted to Increase Social Security Checks by $60 in 2025

Phoenix, Arizona – Social Security beneficiaries are projected to see a $60 increase in their monthly checks next year, according to the Social Security Administration. With inflation on the rise, experts estimate a 3.2% cost of living adjustment (COLA) increase for 2025 based on current inflation figures. The annual COLA increase is determined by the average annual growth in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from July to September. …

Social Security Benefits Face Uncertain Future with Lower Cost of Living Adjustment Forecast

Miami, Florida – Social Security beneficiaries in Miami, Florida, are bracing for a potential decrease in their Cost of Living Adjustment (COLA) next year. The adjustment, typically based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) during the third quarter, plays a crucial role in protecting the purchasing power of retirees against inflation. While the official COLA for 2025 has yet to be calculated by the Social Security …

Retirees Brace for Substantial 2025 Social Security Adjustment Amid Rising Inflation

Washington, D.C. – The recent meeting of the Federal Open Market Committee (FOMC) has shed light on potential developments that could impact retirees’ Social Security cost-of-living adjustments in 2025. The Federal Reserve, in its ongoing battle with inflation, aims to drive inflation below 2% while maximizing employment opportunities. However, recent statements from the FOMC indicate a lack of progress towards this inflation target, raising concerns about the future financial implications for retirees. One key factor …

2025 Social Security COLA Forecast: Experts Predict Lower Adjustment Ahead

Washington, D.C. – Retirees depend on Social Security benefits to provide financial stability in their golden years. The annual cost-of-living adjustment (COLA) plays a crucial role in ensuring that beneficiaries receive a boost to keep up with inflation. In a recent announcement, the Social Security Administration revealed that the 2024 COLA was set at 3.2%, providing recipients with a significant increase in their benefits. This adjustment aims to help maintain the purchasing power of Social …

SSI Recipients to Receive Double Payments in May Due to Weekend Adjustment

Albany, New York – The Social Security Administration recently announced changes to Supplemental Security Income (SSI) payments for May, ensuring beneficiaries will receive two payments this month due to the June 1 payment falling on a Saturday. According to the agency’s procedures, payments are rescheduled to the prior working day, Friday, May 31, impacting SSI recipients, retirees, survivors, and disabled individuals. Beneficiaries can expect their regular SSI payment on May 1st, along with an additional …

Social Security Cost-of-Living Adjustment for 2025 Estimated at 2.6%, Impacting Retirees

Cleveland, Ohio – American retirees and Social Security beneficiaries are bracing for the impact of rising inflation in the aftermath of the pandemic. According to the Senior Citizens League, the 2025 Social Security cost-of-living adjustment (COLA) is projected to be 2.6% based on March inflation data, marking an increase from the previous month. This anticipated COLA increase follows a 3.2% raise in monthly checks for Social Security recipients this year, with an even more significant …

Social Security Recipients See Decline in Federal Payments, as Cost-of-Living Adjustment Forecasted to Increase

New York, United States – The latest data from the Social Security Administration revealed a decrease in the number of recipients of federal payments by approximately 13,500 individuals. In March, there were around 7.27 million individuals receiving federal payments, a slight decline from the previous month’s 7.284 million recipients. The distribution of federal payments among different age groups showed fluctuations. Recipients qualifying based on age totaled nearly 1.115 million last month, slightly higher than the …

Social Security Recipients Set for 3% Cost-of-Living Adjustment Amid Rising Inflation Fluctuations

Washington D.C. – Social Security recipients are anticipated to receive a substantial cost-of-living adjustment (COLA) next year as inflation continues to rise steadily. The annual adjustment, based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, is projected to be around 3%, according to data from March. The increase exceeds expectations, highlighting the ongoing struggle to manage high inflation rates. The Consumer Price Index rose by 0.4% from the previous month and …

SSI Payment Increase and COLA Adjustment Key Changes for Social Security Recipients in 2024

Washington, D.C. – The Social Security Administration has recently announced changes to the Supplemental Security Income (SSI) payment program for the year 2024. These modifications will have a significant impact on the financial well-being of beneficiaries across the country. The SSI payment adjustments include an increase in the basic payment for unmarried individuals who also receive another Social Security benefit, raising it to $943 per month. Additionally, the average monthly SSI payment for couples will …

Automatic Adjustment Proposal by Retirement Experts Aimed at Securing Social Security’s Future

Boston, MA – In a recent proposal featured in the Boston Globe by retirement plan experts Alicia Munnell and William Arnone, a new idea for automatic adjustments to Social Security funding has been introduced. The concept aims to address the ongoing solvency issues of the popular government program by implementing a legislative “backstop” mechanism to avoid uncertainty caused by political disputes. Munnell and Arnone emphasized the importance of addressing Social Security’s future during an election …