Why a Bigger COLA Isn't Always Good News for Retirees
It's appreciated, but it doesn't help with the current inflation retirees face.
Why a Bigger COLA Isn't Always Good News for Retirees
Overview
Social Security benefits have been a lifesaver for many Americans over the years, with millions relying on them for their only source of retirement income. The program is far from perfect, but there's one aspect I'm sure everyone can appreciate.
One of Social Security's long-standing features is the annual cost-of-living adjustment (COLA), which is intended to offset inflation. Retirees surely appreciate a boost to their benefits, but unfortunately, a larger COLA isn't always good news because of the implications of the raise.
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Originally published at www.fool.com.
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