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Finance
It's Not Just a COLA: 3 Updates the Social Security Administration Should Share in October
There could be a host of key information coming out later this year.
If you're seeing Social Security in the news a lot lately, there are a couple of reasons. The first is that the program's trustees recently shared an unfavorable financial update. To make a long story short, benefit cuts could happen as soon as 2032 if lawmakers don't act.
The other Social Security headlines you might be seeing may relate to the program's upcoming cost-of-living adjustment, or COLA. Social Security benefits are eligible for a COLA each year to help those payments keep up with inflation. After a lackluster 2.8% COLA this past January, many retirees are hoping next year's raise will be far more generous.
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