Posted 2/13/2024, 5:51:05 PM
Social Security Recipients Brace for Meager 2025 COLA After Recent High Inflation
- Social Security's 2025 COLA projected to be just 1.75%, much lower than 2023's 8.7% and 2022's 3.2% amounts
- Lower COLA raises concerns for seniors still recovering from high inflation in recent years
- More Social Security recipients having to pay taxes on benefits due to threshold not adjusting for inflation
- Some states taking a cut of Social Security benefits as well
- Analysis done by The Senior Citizens League using latest consumer price index data, though estimates vary and could change
