Tag Archives: Bump

Photo by CREATISTA / Shutterstock.com Retirees will see their Social Security payments increase by 1.3% in the new year on account of inflation. Yet, this latest annual cost-of-living adjustment could end up costing some retirees. For those who do not currently pay federal income taxes on their Social Security benefits, …

Photo by Rido / Shutterstock.com Social Security recipients hoping for more cash to spend in 2021 are sure to be disappointed by the Oct. 13 announcement from the Social Security Administration. One year after receiving a measly increase in their benefits, recipients now face an even smaller 1.3% cost-of-living adjustment, …