Next year’s Social Security cost-of-living adjustment may top the record 5.9% boost beneficiaries saw in 2022. Here’s what to watch.
Social Security and senior advocacy groups like The Senior Citizens League have also called for changing over to the CPI-E, which was created in 1987 by the U.S. Bureau of Labor Statistics at Congress' instruction.
Had that measure been used for this year's COLA, the increase would have been just 4.8%, rather than the 5.9% hike that has been implemented, according to research from the Center for Retirement Research at Boston College.
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