President-elect Donald Trump is nominating Frank Bisignano, the chief executive officer of fintech and payments company Fiserv Inc., to be the commissioner of the Social Security Administration.

U.S. President-elect Donald Trump said on Wednesday he has chosen Fiserv CEO Frank Bisignano to head the Social Security Administration.

President-elect Donald Trump is nominating Frank Bisignano, the chief executive officer of fintech and payments company Fiserv Inc., to be the commissioner of the Social Security Administration. Most Read from BloombergAs Wars Rage,

Social Security beneficiaries have some changes coming in December and January, due to quirks of the calendar and a payment hike.

Social Security payments receive annual cost-of-living adjustments (COLAs) to protect the purchasing power of benefits from inflation. Americans have ranked inflation as their most pressing financial concern for three consecutive years,

A 2.5% cost-of-living adjustment increase will mean an extra $50 a month for most Social Security and SSI recipients.