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From Chuck Weber, your Veteran Service Officer...
 Social Security COLA for 2023 - TSCL Forecast Up to 10.5%




Once again, TSCL is being quoted in a number of media outlines regarding its forecast of the 2023 Social Security COLA. Among them is Yahoo Finance, which said this: “Based on new inflation

data through June, the cost-of-living adjustment for Social Security benefits, or COLA, could be an increase of 10.5% next year, according to estimates from The Senior Citizens League, boosting the average retiree benefit by $175.10 every month.”


However, the article pointed out that a larger COLA is not all good news for seniors. The COLA will not go into effect until January of next year. In addition, it is likely a Medicare Part B increase will take a large portion of the new COLA. And it could push certain seniors into a higher tax bracket resulting in increased taxes and/or a COLA reduction in some benefits

Expired cards can be confiscated at base gates.



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