Social Security boost for more than 3.2 million coming
The Department of Government Efficiency (DOGE) says it is closing a Social Security Administration office in Michigan as part of ongoing cuts in the federal government. The agency -- headed up by Elon Musk -- posted the cut on the DOGE website this week.
Elon Musk’s team has descended on an already understaffed Social Security Administration, which now faces further workforce cuts and closures of vital local offices.
Retirees are often thought to be living on fixed incomes, but most of them are collecting Social Security benefits, and those benefits are not exactly fixed -- because they're increased nearly every year via cost of living adjustments (COLAs). It's important to understand what COLAs do -- and how they can affect your retirement.
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