Social Security recipients to get cost of living increase
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Civil Service Retirement System retirees will see a 2.8% increase to their defined-benefit annuities next year, compared to just a 2% bump for Federal Employees Retirement System annuitants.
President Donald Trump's tariff and trade policy is directly affecting Social Security raises in the new year.
The cost-of-living adjustment will increase benefits by about $56 each month. Investopedia editor-in-chief Caleb Silver has the details.