2016 Cost of Living Adjustment: Not This Year
Posted October 22, 2015 by Premier Disability Services, LLC® The Social Security Administration has announced some sad news for beneficiaries eagerly anticipating a cost of living adjustment (COLA) in 2016. For only the third time since COLAs began in 1975, there will be no adjustment to benefit rates in 2016 based on cost of living. SSA reports that benefits are increased annually to keep up with increased cost of living as measured by the Consumer Price Index. According to SSA, there has actually been a decline in the Consumer Price Index which means no COLA is warranted for 2016.(more…)