WASHINGTON (AP) - Some 55 million Social Security recipients will get a 3.6 percent increase in benefits next year, their first raise since 2009. The increase was announced Wednesday when the government released a key measure of inflation, which determines whether people who receive Social Security get a cost-of-living adjustment, or COLA.
The Social Security Administration uses the average monthly index — of the Consumer Price Index — for the third quarter of 2011 and compares it to the third quarter average from the last year that a COLA was activated — in this case, 2008.
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He's still trying to get those votes , too little too late.
ReplyDeleteThe increase in Medicare will eat away at a good part of that raise.
ReplyDelete2:28,
ReplyDeleteWho's trying to get votes? Could have swore the COLA raises were based on formulas that have little to do with the political winds. But maybe I'm crazy.
No wonder pension plans are broke. Why in the world would these pension plans qualify for COLA? That's nuts!
ReplyDeleteWhen you retire, if you had a pension, that amount should not go up. This is ridiculous!