Each year we announce the annual cost-of-living adjustment (COLA). Usually there is an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month, starting the following January. By law, federal benefits increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Continue reading
We are constantly expanding our online services to give you freedom and control when doing business with us. Our new online cost-of-living adjustment (COLA) notices are another example of our commitment in this area.
Later this year, we will post the Social Security COLA notices online for retirement, survivors, and disability beneficiaries with a my Social Security account. The announcement of the COLA amount will occur in October, but final benefit amounts won’t be calculated and available until December, when we mail COLA notices that contain the benefit amount for the next calendar year. Continue reading