Understand COLA, done
Inflation rates fluctuated between 3.3 percent and 11.3 percent in the 1970s. In 1975, COLA was increased by 8 percent while inflation was 9.1 percent.
In 1980, the COLA reached its highest level in history at 14.3 percent, with an inflation rate of 13.5 percent.
Small COLA increases of 2 to 3 percent per year were common in the 1990s thanks to dramatically reduced inflation rates.
Even lower inflation rates in the early 2000s resulted in no COLA adjustments in 2010, 2011 and 2016.
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2022 COLA Social Security Payments Plan – Direct Payments up to $4,194 Sending This Week – How Much Will You Get?
