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The 8.7% increase in the new payment amount in 2023 is the fourth largest COLA in history by the Social Security Administration since 1981.
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The salary tally for 2023 is as follows:
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For birth dates 1 through 10, payments are made to recipients on the second Wednesday of each month.
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For birth dates 11 through 20, payments are made to recipients on the third Wednesday of each month.
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For birth dates from 21 to 31, payments are made to recipients on the fourth Wednesday of each month.
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