Tag: COLA adjustment
During the long and tranquil period for inflation that ended with COVID, 18 states passed legislation requiring employers to pay a minimum wage that automatically increases every year to protect their lowest-income workers from inflation. With inflation surging to 7 percent in 2021 and running even higher this year, the cost-of-living increases are paying u…
The time has come to speculate about Social Security’s cost-of-living adjustment (COLA) for 2023. Automatic indexing of benefits to keep up with rising prices is a wonderful feature of our Social Security program. Since the COLA first affects benefits paid after Jan. 1, Social Security needs to have figures available before the end of 2022…
