The Social Security Administrations Cost of Living Adjustment (C.O.L.A.) Fact Sheet
The Social Security Administration Announces 2022 COLA
5.9% is the biggest COLA increase in decades.
Some fear that rising consumer prices may dilute the impact of the increase with inflation currently running at more than 5 percent. While this remains to be seen, Social Security beneficiaries will no doubt welcome the largest adjustment in many years.
Retirement Contribution & Benefit Limits
The IRS announced cost of living adjustments changing dollar limitations for pension plans and other retirement-related items for the tax year 2021