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The Grim Reality of Social Security's Record "Raise" in 2023

The Grim Reality of Social Security's Record "Raise" in 2023

Oct. 13, 2022, at 08:30 a.m. ET -- Social Security's more than 65 million beneficiaries will find out exactly how much their monthly benefit is slated to rise in 2023. For most of the 48.1 million retired workers receiving a Social Security check, unveiling the cost-of-living adjustment (COLA) is the most important announcement of the year. Why is Social Security's cost-of-living adjustment (COLA) so important?