2023 Social Security Cheat Sheet - Flipbook - Page 11
2019 REVISED EDITION:
Social Security Cheat Sheet
Cost of Living Adjustments (COLA)
In 1972, Congress enacted the COLA provision, requiring a measure of
inflation to determine the annual increases in Social Security benefits.
Automatic COLA’s began in 1975. Currently, the measure used is the CPI-W,
which is calculated by the Bureau of Labor Statistics based on the Consumer
Price Index for Urban Wage Earners and Clerical Workers.
The COLA for 2019 is 2.8%, up from 2% in 2018. Someone who is collecting
$2,000/mo. will now receive $2,056/mo. This represents the largest single year
increase since 2012.
Average COLA Rates
Since 1975
3.72%
Last 20 Years
2.15%
Last 10 Years
1.77%
Source: COLA Information for 2019. Social Security Administration.
https://www.ssa.gov/news/cola/. Last Accessed October 11, 2018.
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