If you're on Social Security, you probably have at least a basic idea of what cost-of-living adjustments (COLAs) do. They're designed to give your checks a boost each year, though the amount you get varies depending on the size of the COLA and the size of your checks.

You might think that's all there is to know about COLAs, but you'd be surprised. Here are three lesser-known details worth filing away in your memory bank.

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Source Fool.com