Larry,
In one of your pages you stated- Starting with the year in which you reach age 62, your retirement rate is credited with any subsequent COLA increases as calculated using Social Security's formula (https://www.ssa.gov/oact/cola/latestCOLA.html). Such COLA increases are added to your benefit rate regardless of whether or not you start receiving benefits at age 62.

My question - I am one of the (mis) "fortunate" born in 1960. I will be 62 in 2022. Will the just announced COLA increase of 5.9% be applied to my benefit or by "subsequent" COL increases do you mean the one next year? Did those born in 1960 just Dodge a bullet the AWI issue (+2.83 increase rather than 9% or more decrease), only to be hit with last years inflation and this years 5.9 % - for a loss?

Hi. No, assuming that you weren't born on January 1st. Only people who were born prior to January 2 1960 will have their Social Security retirement benefit rates increased by the 5.9% COLA, and those people will receive credit for the COLA even if they don't start drawing their benefits until after the COLA goes into effect.

Basically, Social Security retirement benefit rates are credited with all COLAs that occur after a person reaches age 62. People born on January 1st are considered to have reached their next age on December 31st of the prior year, which is why people born on January 1 1960 will receive credit for the January 2022 COLA. The first retirement benefit COLA that people born from January 2 1960 through January 1 1961 could receive is the one that will likely occur in January 2023.

Best, Jerry