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chart showing what the 2021 COLA amount would increase in average benefits The 1.3% COLA announced by the Social Security Administration tweaks the average benefit — unacceptable to legislators who say the pandemic requires a higher COLA.

House lawmakers are proposing emergency legislation to increase the 2021 Social Security cost-of-living adjustment to 3%. The move comes just days after the Social Security Administration announced that the COLA for 2021 would be 1.3%.

Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. You can reach her at [email protected] On twitter: @Think_MelanieW

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