Roughly 70 million Americans are likely to see a notable boost in their monthly checks.
Beneficiaries can expect the final COLA to be released on Thursday following the release of the inflation figures for September, according tothe highest COLA increase since 1981For the average retiree who got a monthly check of $1,656 this year, an adjustment of 8.7% would boost the payment by $144.10, the Senior Citizens League said.
"A COLA of 8.7% is extremely rare and would be the highest ever received by most Social Security beneficiaries alive today," the Senior Citizens League said in a statement last month. "There were only three other times since the start of automatic adjustments that it was higher ."
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