Fun Fact of the Day, October 11, 2018

October 11, 2018

LITTLE BUMP - The "cost of living adjustment" (COLA) made to Social Security benefits is calculated based upon the year-over-year increase in prices using the 3rd quarter of subsequent years.  E.g., the COLA that will be applied to benefits paid in January 2019 will be based on the change of prices from the 3rd quarter 2017 to the 3rd quarter 2018.  The COLA increase has been less than 2% in 7 of the last 9 years (source: Social Security).

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