Social Security is a major benefit for most older Americans. For many retirees it’s their largest source of retirement income. Over half of retirees say half of their income comes from Social Security and a third of retirees say 90 percent of their income is from Social Security benefits. One of the benefits of Social […]
Should Seniors Get a One-Time Payment to Make Up for the Small Social Security 2017 COLA?
Update: Unfortunately, as of March 2017, there has been no word of the proposed one-time payment to make up for the small 2017 COLA. This is the second year in a row that seniors have received no increase or a very small increase in Social Security benefits. Twice, members of Congress proposed a one-time payment […]
No Social Security Increase Expected for 2016
Update: The SSA just announced the COLA for 2017. Social Security beneficiaries will receive a 0.3% increase in benefits next year. The COLA remains low due to low inflation. More details soon… One of the greatest benefits of Social Security is that recipients receive an increase in their benefits as their expenses rise. This is […]
Social Security Increase for 2014 to be 1.5 Percent
Update 10/30/13: It’s official. The SSA just announced that the benefit increase for 2014 will be 1.5%. You can see the press release here. Many Seniors and other Social Security beneficiaries may not know it yet, but the expected Social Security increase for 2014 is 1.5 percent. The Announcement was scheduled for October 16, but […]
The Government Shutdown Won’t Affect Your Social Security Benefits, But the Debt Ceiling Might
Social Security Benefits Will Continue to be Paid The good news is that Social Security retirement, disability and other benefits are continuing to be paid during the government shut down. The bad news is that some services are not available during the shutdown, the annual COLA announcement has been delayed, and if the debt ceiling […]