The Social Security Administration sets its yearly COLA based on inflation during the third quarter, or from July through September. The agency takes the average inflation rate over that period from what's known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W,...
The new projection, from the Social Security Board of Trustees'annual report,amounts to "good news" for the program's 70 million beneficiaries, said Martin O'Malley, Commissioner of Social Security, in astatement.Even so, he urged Congress to take steps to shore up the program to ensure it...
The Social Security Administration sets its yearly COLA based on inflation during the third quarter, or from July through September. The agency takes the average inflation rate over that period from what's known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W,...