Social Security Could Get a 3% Raise Next Year — but Will It Even Matter?

Each year, countless seniors who rely on Social Security eagerly await their cost-of-living adjustment(COLA) in the hopes of getting more money in their pockets to pay the bills. Since 1975, beneficiaries have been eligible for automatic COLAs to help ensure that their benefits keep up with inflation.

But in recent years, those COLAs have been notably stingy.