Update: The Social Security Administration announced a 2% cost of living adjustment (COLA) for Social Security recipients for 2018. The bad news is that inflation is rising. The good news is that retirees might finally get a decent Social Security increase in 2018. Although the official announcement about the Social Security COLA won’t be until […]
Social Security COLA Not Keeping Up with Retiree Costs
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 […]
Fixing Social Security: Obama’s New Index Calculation
Due to low cost of living allowance (COLA) increases for Social Security beneficiaries the past few years, President Obama has recommended that the cost of living adjustment for Social Security be adjusted. This is just one of many proposals included in the president’s 2014 budget. To give you a little background, Social Security benefits are […]
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 […]