🎴 Flashcard Mode
Social Security COLA (Cost-of-Living Adjustment)
Card1 / 15
Mastered0
Review0
QuestionClick to flip
What is the purpose of Social Security COLA?
AnswerClick to flip back
A
To increase Social Security benefits in line with inflation.
💡 Explanation:
Social Security COLA is an annual adjustment to Social Security benefits that is intended to keep pace with inflation and ensure that beneficiaries' purchasing power is not eroded over time.