The Social Security cost-of-living adjustment for 2022 could be the biggest in decades.
However, that increase to monthly checks will not be enough, according to The Senior Citizens League, a nonpartisan advocacy group.
In a letter sent to members of both the House of Representatives and Senate this week, the group is ramping up its calls for new $1,400 stimulus checks to be sent at once to Social Security beneficiaries.
Read more...Along with the one-time payments, the group is advocating for changes to the method by which the annual COLA is calculated. The Social Security Administration currently uses the Consumer Price Index for Urban Wage Earners and Clerical Workers to determine those changes. Also known as the CPI-W, it tracks spending by those who earn hourly wages or work in clerical jobs.