Re: No cola increase
There wasn't one in 2011. We are now in FY 2012 can you quote the site that says no increase this year?
The increase (or decrease) in the CPI will depend on the CPI numbers for the months of July, August and September. July numbers will be released Aug. 18. If they hold at current levels, retirees would get something in the neighborhood of 3.3 percent
igures from July, August and September will be averaged out to determine the COLA for next year.
As the Social Security Administration explains it: “The Social Security Act provides for an automatic increase in Social Security and SSI benefits if there is an increase in the consumer price index for urban wage earners and clerical workers (CPI-W) from the third quarter of the last year a cost-of-living adjustment (COLA) was determined to the third quarter of the current year.”
Just trying to clarify