October 11, 2010

No COLA for Social Security in 2011

There is recent news that they are expecting that there will be no Cost of Living Adjustment (COLA) for Social Security in 2011.

The Social Security COLA is based on the Consumer Price Index for Urban Wage earners and Clerical workers or the CPI-W.   The COLA for 2010 was also zero because there was no increase in the CPI-W from Q3 of 2008 to Q3 of 2009.

The COLA is an inflation adjustment based on an inflation measure.    It goes up in order to compensate for increased prices and lower buying power of your social security dollars. 

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