COLA Archives - DR News - News, Retirement, Finance

SSDI and Retirement Payments with 3.2% COLA Increase Delivered Today

Miami, FL – Social Security recipients in Miami, FL should be on the lookout for their payments today as the Social Security Administration is distributing payments to retired workers and eligible beneficiaries of the Social Security Disability Insurance (SSDI) program. These payments already include a 3.2% increase from the cost-of-living adjustment (COLA) announced last year. Social Security, a vital insurance program funded by payroll withholding and federal tax filings, provides crucial support to individuals by …

Social Security’s 2025 COLA Estimates Highlight Potential Disappointment for Retirees

Baltimore, Maryland – Social Security plays a crucial role in the lives of millions of Americans, lifting many above the poverty line each year. A constant concern for the program’s beneficiaries is the annual cost-of-living adjustment (COLA) announcement by the Social Security Administration (SSA) in October, as these adjustments impact the financial stability of over 67 million recipients. The COLA is essential for ensuring that Social Security benefits keep pace with inflation. The calculation involves …

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 …

Social Security Benefits: 2025 COLA Projection Indicates Decrease

Miami, Florida – Social Security beneficiaries may face a smaller cost-of-living adjustment (COLA) in 2025, according to early projections. The anticipated decrease from current and previous years could impact millions relying on these benefits for their financial security. The Senior Citizens League (TSCL) projects a slight 1.75% increase in COLA for 2025, based on the latest data from the Consumer Price Index for Urban Wage Earners and Clerical Workers. However, TSCL emphasizes that this estimate …

Seniors Await March Social Security Benefits Over $4,000 with COLA Increase

Miami, Florida – Social Security beneficiaries in Miami, Florida, have begun receiving their benefits for March. While some have already received their checks, others are eagerly awaiting the arrival of theirs. This month, retired workers may be eligible to receive over $4,000 in Social Security benefits, providing much-needed financial support to many individuals. The Social Security Administration (SSA) annually distributes around $1.5 trillion in benefits, playing a crucial role in the economic stability of millions …

Social Security 2025 COLA Increase Predicted to be Lower Amid Abating Inflation

Washington, D.C. – The upcoming Social Security cost-of-living adjustment for 2025 is expected to be lower than the increase seen in 2024, as inflation rates are showing signs of abating. The Senior Citizens League, a nonpartisan group, forecasts a 2.4% raise in benefits for next year based on current inflation metrics, aligning closely with the Congressional Budget Office’s projection of a 2.5% increase. This is a decrease from the 3.2% bump seen in 2024. Mary …

Understanding the Changes in Social Security Taxes for 2024

The Social Security Administration recently announced a 3.2% cost-of-living adjustment (COLA) for benefits in 2024. While this increase is smaller than the 8.7% boost seen in 2024, it still represents a significant rise compared to recent years. This adjustment is crucial for the millions of Americans who rely on Social Security benefits for their retirement income. However, it also raises questions about the funding of these higher payments and the impact on Social Security taxes …

Social Security COLA Increase Disappoints American Seniors in 2025

Cleveland, Ohio – The recent estimates regarding the cost of living adjustment (COLA) have left many seniors in the United States feeling disappointed. The Social Security Administration (SSA) typically announces the new COLA increase in October each year. The Senior Citizens League has revised its estimate for the 2025 COLA, setting it at 2.4 percent. This increase has raised concerns among beneficiaries who worry that it may not be sufficient to cover the rising costs …

The Escalation of Oil Prices is Contributing to the 2024 COLA Uplift.

The surge in oil prices has recently been a topic of concern, stirring discussions among economists and policymakers. However, this scenario has a silver lining for retirees. The announcement of the Cost of Living Adjustment (COLA) by the Social Security Administration (SSA) is an annual event crucial for retirees. COLA determines the increment in Social Security checks for the following year based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). …

Maximum Social Security Check Surges to $4,873 in 2024: COLA Adjustment Boosts Retirement Benefits

Orlando, Florida – Social Security beneficiaries in the United States saw an increase in their checks in 2024, thanks to the Cost of Living Adjustment (COLA). This adjustment is crucial in ensuring that retirement payments keep up with inflation, allowing retirees to maintain their standard of living. The COLA, which stands for Cost of Living Adjustment, is an annual increase implemented by the Social Security Administration to adjust retirement checks to account for rising costs …