Millions of Americans look forward to a special day that comes around once each year. I'm not talking about Independence Day, Christmas, or any other holiday, though. Instead, I'm referring to the day Social Security beneficiaries find out what their annual cost-of-living adjustment (COLA) will be.

The annual COLA is intended to help Social Security benefits keep up with inflation. Sometimes the adjustment is high. Sometimes it's not. Here's the average Social Security COLA from 1975 to 2023.

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Source Fool.com