Social Security 5% COLA increase in 2022.

Not to stir up class warfare, but I just saw a news article about the Social Security Cost Of Living Adjustment (COLA) by 5% in 2022. But, as always the more money you put into SS, through your income, the higher the benefit payout. And the higher the COLA increase. This means that those who get a lower benefit, such as those with a low income or early onset of a disability, get less. A pitty.

 

Did around on the SSA website - the actual benefit calculation is actually slightly progressive, e.g. lower earners get a little higher percentage of there wage.

 

Well, some get a $2000 SSA benefit, some get $1000, and some earn $500 or less. Obviously, 5.9% of that varies by a lot.

 

I saw a news article that SS receivers will get a bonus bump up, based on their benefits, in addition to the COLA increase. But, I can't find a trace of it now, so, I guess never mind. This is a dead thread.

 

And . . .?