Social Security Administration Announces COLA Increase

On Oct. 13, the Social Security Administration (SSA) announced the Cost-of-Living Adjustment (COLA) for 2018. The monthly Social Security and Supplemental Security Income (SSI) benefits for more than 66 million Americans will increase 2.0 percent in 2018. The 2.0 percent COLA will begin with benefits payable to more than 61 million Social Security beneficiaries in January 2018. And increased payments to more than 8 million SSI beneficiaries will begin on Dec. 29, 2017.