(NEXSTAR) – The Senior Citizen’s League, a nonpartisan organization aiming to educate older Americans about laws, rights and financial issues facing their demographic, has proposed that the Social Security Administration consider a “one-time catchup payment” to help retirees make ends meet amid rising inflation.

The “catchup payment,” also referred to as a “make-up payment” by The Senior Citizens League (TSCL), would ideally be paid to Social Security beneficiaries in addition to next year’s cost-of-living adjustments (COLA), the group hopes.

“Many retirees have experienced a sharp erosion in their purchasing power, as Cost-of-Living Adjustments (COLAs) have failed to keep pace with the rapidly rising costs of essentials such as food, housing, and healthcare,” reads a statement TSCL shar

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