By Mark Miller
Source: The New York Times
More than 70 million Americans who receive Social Security benefits can expect an inflation adjustment to their monthly checks next year that will be the largest in four decades.
Government inflation figures for August, released on Tuesday, point to a Social Security cost-of-living adjustment, known as the COLA, of 8.7 percent, according to an estimate by a nonpartisan group that lobbies for seniors. The Social Security Administration will announce the final figure on Oct. 13, after the release of September inflation data.