Retirees: Why Oct. 12 Is Social Security's Most Important Day of the Year
Social Security undergoes several revisions each year to keep certain aspects of the program aligned with inflation and wages. The most highly anticipated of those annual revisions is the cost-of-living adjustment (COLA), and just one more data point is needed to finalize the calculation for 2024: September inflation.
The Labor Department is scheduled to announce that last data point on Thursday, Oct. 12, 2023, at 8:30 AM ET. Barring unforeseen circumstances, the Social Security Administration will issue a press release that same day detailing multiple major changes coming to Social Security in 2024, including the finalized COLA.
Here are the important details.
Source Fool.com
