Earlier this year, there were rumblings that the 2022 Social Security cost-of-living adjustment (COLA) would be historically large. Specifically, The Seniors Citizen’s League’s (TSCL) Social Security and Medicare policy analyst, Mary Johnson, predicted

Each year, the Social Security cost-of-living adjustment (COLA) updates the amount that Social Security beneficiaries receive each month. This is mainly done to keep the benefits in-line with inflation and the standard costs