YOUR SOCIAL SECURITY BENEFIT IS GETTING LARGER!

The US Social Security Administration (SSA) is set to announce the largest benefit increase in 40 years. The announcement will come in October, 2022 and the increased benefit will be effective January, 2023.

It's the annual Cost of Living Adjustment (COLA) based on inflation. As we all know, inflation is running between 8 and 9 percent right now. Social Security will adjust benefits to help offset the high inflation rate.

We are estimating a benefit adjustment of about 8.7 percent. This would be the largest Social Security increase since 1984.

You will see the increase automatically applied to your Social Security check in January, 2023.

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