billisonboard
Community Leader
Joined: Dec 20, 2010 22:45:44 GMT -5
Posts: 37,476
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Post by billisonboard on Oct 13, 2022 16:14:54 GMT -5
Relevant facts: I am 65 I will reach full SS retire age next year. I plan on starting to draw benefits next year
What I think is true: My benefit amount will increase 1.6% for 2019, 1.3% for 2020, 5.9% for 2021, and now 8.7% for next year, compounded.
Does anyone know if that is accurate?
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tallguy
Senior Associate
Joined: Apr 2, 2011 19:21:59 GMT -5
Posts: 14,160
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Post by tallguy on Oct 13, 2022 16:24:58 GMT -5
Yes, you will "receive" the COLAs for every year after you turned 62.
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