This is a marginal improvement over the 0.2% projected last week,
and the 0% COLA from last year. For the average retiree, this
constitutes a five dollar increase in benefits.
This 0.3% increase follows several years of low COLAs. The COLA has consistently been under 2.0% since 2012, stoking a debate
regarding whether or not the current formula adequately reflects the spending needs of senior citizens.
The SSA’s COLA announcement may be read here. More analysis can be found from
the Wall Street Journal here.