If you want to know more about the COLA formula, read my July 24, 2017, article: The Formula: How Much Will Social Security Benefits Increase?
In short, the COLA is based on an unusual inflation index – CPI-W – and is determined by averaging the indexes for July, August and September and comparing that number with the same average for last year. The CPI-W index for September 2018 was set at 246.565, completing the equation needed to set the 2019 COLA at 2.8%. Full details.
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