Social Security Is Announcing a Change to Retirement Benefits on Oct. 14
Are you prepared for this benefit change to hit your check?
Overview
On Oct. 14, Social Security beneficiaries will get news they have been waiting for all year. The news about what the 2027 cost-of-living adjustment (COLA) to their benefits will be will help retirees and others receiving Social Security to make financial plans for the upcoming year.
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The COLA announcement is an important one because it lets Social Security recipients know for sure what their benefits will be next year. The big news will be revealed on Oct. 14 because that is when the price data necessary to determine the size of the COLA is ready. These benefit adjustments are based on third-quarter (July, August, and September) changes to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
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Originally published at www.fool.com.