Cost Of Living Adjustment Must Be Higher, Berkeley Officials Say

BERKELEY, NJ — The Social Security Administration's proposed cost of living adjustment (COLA) for 2024 is not enough to Berkeley's seniors to survive, Berkeley officials said.

Councilman Keith Buscio brought the topic up at a recent Township Council meeting, asking for a resolution to implore the SSA to reconsider the number.

The proposed adjustment is a "measly" 3.2 percent, Berkeley officials said in the resolution.

"We all know with inflation the way it is and with the conflict in the Middle East, we could be looking at $4 gas prices and maybe even higher," Buscio said at the meeting.

As Ocean County is home to the highest senior population in the state, many of whom survive on less than $1,800 a month from Social Security, a more significant COLA increase is necessary, Berkeley officials said.

"The paltry adjustments do not meet the financial needs of the senior community to be able to live comfortably within New Jersey," the resolution reads.

Instead, there should be an 8.7 percent COLA adjustment for 2024 as there was in 2023, officials said.

The resolution urges legislators to change the number to "help protect our senior citizens."