When most Americans retire, Social Security becomes an indispensable source of income. Based on surveys conducted for the past 20 years by national pollster Gallup, between 80% and 90% of retired respondents claim that their Social Security benefit accounts for a "major" or "minor" source of income. 

Given the vital role the program plays in keeping our nation's retired workforce out of poverty, it should come as no surprise that Social Security's most-anticipated annual announcement is its cost-of-living adjustment (COLA).

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Source Fool.com