Fun Fact of the Day, October 14, 2019

October 14, 2019

Annual Bump - The “cost of living adjustment” (COLA) made to Social Security benefits is calculated based upon the year-over-year increase in prices from the 3rd quarter of subsequent years. E.g., the COLA that will be applied to benefits paid in January 2020 will be based on the change of prices from the end of the 3rd quarter 2018 to the end of the 3rd quarter 2019. The COLA increase was +2.8% last year (source: Social Security).

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