Millions of Americans may see $4,555 cash benefits

MILLIONS of Americans may see up to $4,555 in cost-of-living adjustment (COLA) benefits next year. The Senior Citizens League has slightly tweaked its 2023 COLA projection to an 8.6 percent increase. The increase would mean that the average benefit will climb by about $143 per month to $1,800. The maximum benefit would jump by around $361 to $4,555. The anticipated increase comes as the consumer price index has surged throughout the past few months, due to the supply chain falling short of demand. Social Security benefits are calculated based on the yearly cost-of-living adjustment, which depends on the consumer price… Read Full Article