Millions 0f retirees on Social Security will get a 5.9% boost in benefits for 2022, the Newsy website reports today (October 14, 2022).
The biggest cost of living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic.
The COLA (cost of living adjustment) amounts to $92 a month for the average retired worker, according to estimates released yesterday by the Social Security Administration.
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