[NFBofAlaska] SSDI and SSI beneficiaries to get 5.9 percent increase in 2022

[Michael Lauf]

"Millions of Americans collecting Social Security and Supplemental
Security Income (SSI) will get a 5.9% bump in 2022, the highest
inflation adjustment in 40 years.

"The 5.9% COLA will be effective with benefits payable in January to
more than 64 million Social Security beneficiaries. Also, the
increased payments to more than eight million SSI beneficiaries will
begin on December 30.

"The annual increase is tied to the Consumer Price Index as determined
by the Department of Labor's Bureau of Labor Statistics, and some
other adjustments that take effect in January of each year are based
on the increase in average wages."