The 2023 COLA could be the largest for federal retirees in 40+ years

Earlier this week, roughly 70 million Americans receiving Social Security also received some good news: the cost-of-living adjustment, or COLA, for 2023 may be the highest increase in 40 years. Moreover, this jump may be the highest that many currently receiving benefits have ever seen.

The last time the SSA approved bumps this high was in the late 1970s/early 1980s, as demonstrated by this graph below by CNBC with data from the Social Security Administration.


CONTINUE READING AT » FedSmith.com


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