X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
older woman wearing mask and looking at receipt (Photo: Shutterstock)

The 1.3 percent cost of living increase that older Americans are receiving this month is not keeping pace with rising expenses, according to a nonpartisan advocacy group. This continues a trend in which Social Security benefits have lost 30 percent of their buying power over the past decade.

“This list is a snapshot of how COVID-19 affected prices of certain items through the end of November 2020,” said Mary Johnson, a Social Security policy analyst for the Senior Citizens League. “There are surprising price aberrations that we haven’t seen before. Never in my wildest dreams would I have thought that toilet paper and disinfecting wipes would wind up on our annual list of fastest-growing retiree costs.”

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.