The COLA Challenge: Do You Know How Your Social Security Raise Is Calculated?

We break down the biggest myths and facts about your annual benefit increase. Take the quiz to find your COLA IQ.

Donna LeValley's avatar
By
Last updated In Features
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(Image credit: Getty Images)

A Social Security Cost-of-Living Adjustment (COLA) is an annual increase to Social Security and Supplemental Security Income (SSI) benefits.

The COLA is a vital feature of the Social Security program, affecting tens of millions of Americans. But how exactly is it calculated and what factors influence the final percentage? Test your knowledge with this 10-question true/false quiz!

Don't worry if you miss an answer; you can follow the links below the quiz to brush up on your knowledge.

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Donna LeValley
Donna LeValley
Retirement Writer

Donna joined Kiplinger as a personal finance writer in 2023. She spent more than a decade as the contributing editor of J.K.Lasser's Your Income Tax Guide and edited state specific legal treatises at ALM Media. She has shared her expertise as a guest on Bloomberg, CNN, Fox, NPR, CNBC and many other media outlets around the nation. She is a graduate of Brooklyn Law School and the University at Buffalo.