Cola short cut.

[broncovet]

 

The easy way to calculate YOURS in one step:

Multiply 1.087 times your last years amount.  This will give you the new amount.  

Of course you can also do it the hard way.  Multiply your current amount times .087 and add your 2022 pay to that.  

I do it the simple, fast way:  Multiply time 1.087.  Both give the same answer.  

Your social security increase is a little more complicated.  (if you have medicare part B deducted).  

Medicare part b is currently $170.10  

 

 

In 2023, the base Part B Medicare premium will decline to $164.90 in 2023, a $5.20 decline from 2022's $170.10 monthly premium.  

 

Therefore to calculate social security Add $170 to your 2022 social security and multiply that number by 1.087.  Then subtract your new medicare premium of $164.90.  

 

[Marine Corp 69/70]

 broncovet