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Social Security Benefit Increase for Retirees

The Social Security Administration announced this week that they’ll be increasing recipient benefits by 5.9% in 2022, the biggest such increase in nearly four decades.  The increase is designed to help offset rising costs, something many retirees have likely seen over the past year.  

You can read more about the changes and how a cost of living adjustment (COLA) works here, and we encourage you to call us if you’d like to discuss how the increase might impact you and your retirement plan.