Worried that your US Social Security benefits won't beat inflation? Here's what you need to know about COLA
Mint·2h ago·Neutral
What Happened
US Social Security's cost-of-living adjustment (COLA) helps 57 million retirees combat inflation eroding benefit purchasing power. COLA uses CPI-W index rather than standard CPI-U, tracking 29% of urban wage earners versus 93% of population. The system evaluates inflation only during third quarter months, providing annual adjustments though imperfectly.
Key Entities
US Social SecurityCOLACPI-WCPI-U57 million retireesinflation