Every year since 2002, national pollster Gallup has surveyed retirees to gauge their reliance on Social Security income. In all 22 surveys, between 80% and 90% of then-current retirees noted that they lean on their monthly payout to cover at least some portion of their expenses.

Considering how important Social Security is to the financial well-being our nation's aging workforce, workers with disabilities, and survivor beneficiaries, there's arguably no event more widely anticipated each year than October announcement of the cost-of-living adjustment (COLA).

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Source Fool.com