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Wednesday, October 14, 2015

Social Security Expect No Raise in 2016

http://money.cnn.com/2015/10/13/retirement/social-security-cola-2016/index.html

The reason? A decline in inflation caused by falling gas prices.
The amount of money that Social Security pays out is adjusted each year to take into account the rate of inflation. This is known as the cost of living adjustment, or COLA.
The inflation measure used by the Social Security Administration was down 0.3% for the 12 months that ended in August -- largely due to a 23% drop in gas prices. Thursday's September reading is likely to show similar numbers. (The COLA is set every October based on the September inflation report.) 


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