The annual Social Security cost-of-living adjustment (COLA) announcement has been delayed due to the government shutdown, now in its third week.
The COLA affects millions of beneficiaries who rely on these adjustments to plan their finances. The Social Security Administration adjusts its benefits based on inflation every year.
The Social Security COLA announcement is now scheduled for October, timed to the September Consumer Price Index, which is expected to be released soon.
Author's summary: Social Security COLA announcement delayed.