This past week, tens of millions of Social security recipients were informed that they would receive no increase in benefits for not only this coming year, but the following year as well. This continues a multi-year trend of seniors not being fully compensated for the realities of living in an inflationary environment. For the past 35 years, Social Security benefits have been increased yearly by the rate of inflation, as measured by the Department of Labor. These changes are meant to keep up with the increases that seniors see each year in their cost of living. But do they really?
David A. Pace, CFA
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