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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><b><u><span style='font-size:12.0pt;font-family:"Arial",sans-serif'><o:p><span style='text-decoration:none'> </span></o:p></span></u></b></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:12.0pt;font-family:"Arial",sans-serif'>Subject: 2023 COLA Announced Today<o:p></o:p></span></p><p class=MsoNormal><b><u><span style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'><o:p><span style='text-decoration:none'> </span></o:p></span></u></b></p><p class=MsoNormal><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>Approximately 70 million Americans who receive monthly Social Security and/or Supplemental Security Income (SSI) benefits will see a 8.7</span><span style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>%</span><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'> cost-of-living adjustment (COLA) for 2023. The COLA takes effect with SSI payments paid on December 30, 2022, and Social Security benefits paid in January 2023. <o:p></o:p></span></p><p class=MsoNormal><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>Many beneficiaries may want to find out exactly what their new benefit amount will be. The fastest way is through their </span><i><span style='font-size:12.0pt;line-height:105%;font-family:"Georgia",serif;color:red'>my</span></i><span style='font-size:12.0pt;line-height:105%;font-family:"Georgia",serif'> <span style='color:#2F5496'>Social Security</span></span><span style='font-family:"Arial",sans-serif'> </span><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>account. In early December, customers can log in to their </span><i><span style='font-size:12.0pt;line-height:105%;font-family:"Georgia",serif;color:red'>my</span></i><span style='font-size:12.0pt;line-height:105%;font-family:"Georgia",serif'> <span style='color:#2F5496'>Social Security</span></span><span style='font-family:"Arial",sans-serif'> </span><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>account and check the Message Center. For beneficiaries who do not have a </span><i><span style='font-size:12.0pt;line-height:105%;font-family:"Georgia",serif;color:red'>my</span></i><span style='font-size:12.0pt;line-height:105%;font-family:"Georgia",serif'> <span style='color:#2F5496'>Social Security</span></span><span style='font-family:"Arial",sans-serif'> </span><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>account, they will need to create their account by November 15 to see their notice online. Beneficiaries can also opt to receive a text or email alert when there is a new message from us – such as their COLA notice – rather than receiving a letter in the mail. <o:p></o:p></span></p><p class=MsoNormal><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>Premiums for Medicare Part B will decrease in 2023. For beneficiaries who choose to deduct their Medicare premium from their monthly Social Security benefit, they will also see the new amount reflected in their January payment. For more information about Medicare changes, please refer to </span><a href="https://www.medicare.gov/"><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>www.medicare.gov</span></a><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>.<o:p></o:p></span></p><p class=MsoNormal><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>The Social Security Act ties the annual COLA to the increase in the Consumer Price Index </span><span style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>(CPI-W),</span><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'> as determined by the Department of Labor’s Bureau of Labor Statistics.<o:p></o:p></span></p><p class=MsoNormal><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>You can learn more about the new COLA at </span><a href="https://www.ssa.gov/cola"><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>www.ssa.gov/cola</span></a><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'>.<o:p></o:p></span></p><p class=MsoNormal><span lang=EN style='font-size:12.0pt;line-height:105%;font-family:"Arial",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:12.0pt;font-family:"Arial",sans-serif'>Kilolo Kijakazi, Ph.D., M.S.W.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:12.0pt;font-family:"Arial",sans-serif'>Acting Commissioner<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><span style='font-size:12.0pt;font-family:"Arial",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><!--[if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f" stroked="f">
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