As Social Security races toward insolvency, retirees are getting their biggest COLA boost in 4 years

Social Security recipients will get a 3.6% raise in January , the largest in four years. Inflation drove it, and the retirement trust fund that pays the checks is projected to run short in late 2032. The cost-of-living-adjustment (COLA) will reach about 72 million people and add an average of roughly $75 a month for retirees. The raise is up from 2.8% this year and is the largest since the 8.7% adjustment announced in 2022 .

Source: Fortune Crypto