At 2.8%, the annual cost-of-living adjustment (COLA) that Social Security beneficiaries received in 2019 was the highest in seven years. The average monthly retiree benefit of $1,425 increased by almost $40, but since O ...
Category: Cost of Living Adjustment (COLA) Articles
Retirees’ Secret Christmas Wish — Keeping Warm This Winter Home Heating Costs 26.2% More for the 2018–2019 Season New List of Rising Retiree Costs From The Senior Citizens League
(Washington, DC) Gift certificates for home-heating oil are likely to be among the most appreciated gift you can give this holiday, says The Senior Citizens League. “That’s because it will cost many Americans roughly 26 ...
Retirees to Get Highest COLA in 7 Years
Retirees will finally start to see more money in their Social Security benefits next year, after years of record low inflation. The Social Security Administration recently announced a 2.8% cost-of-living adjustment (COL ...
Will The Next COLA Finally Raise Your Social Security Benefit?
It’s a situation that many retirees haven’t seen since 2012. A noticeable boost to net Social Security benefits is expected for 2019. While the annual cost of living adjustment (COLA) won’t be announced until October 1 ...
What’s At Stake for Social Security Benefits In the Upcoming Election?
Mary Johnson, editor Voters are worried about the impact that midterm elections could have on Social Security benefits. The U.S. Congressional Budget Office estimates that recent tax reform will add $1.8 trillion to ...
Social Security Benefits Lose 34% of Buying Power Since 2000, 2019 COLA Could Top 3.3%
Social Security benefits have lost 34 percent of buying power since 2000, according to the 2018 Social Security Loss of Buying Power Study recently released by The Senior Citizens League. This is the biggest loss of buy ...
Is Your Social Security Benefit Keeping Up With Rising Costs? Probably Not
About half of participants in TSCL’s 2018 Senior Survey confirm that, after the deduction for their rising Medicare Part B premiums in 2018, they were left with no boost to their net Social Security benefit, or one that ...
How Using The Chained CPI To Calculate COLAs Would Affect Your Benefits
The newly enacted tax legislation calls for adjusting tax brackets and the standard deduction using the more slowly growing Chained consumer price index (CPI). What would switching to the new index for calculating Socia ...
Social Security COLAs Need to Double and Medicare Part B Increases Cut in Half, to Ensure Benefit Adequacy
(Washington, DC) – Social Security cost-of-living adjustments (COLA) would need to double their rate of growth and Medicare Part B premium increases would need to slow by half their historic rate to provide greater Socia ...
How A Provision of Tax Reform Increases Chances of Lower COLAs
By Mary Johnson, editor The main source of funding for Social Security comes from the payroll taxes that workers pay into the program. But there are two other sources of revenues: taxes that retirees pay on their Soc ...
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