Senate Majority Leader Chuck Schumer vowed at a rally with union leaders last week to hold a vote on the bill this week. …What’s unfair is rewarding high-paid government workers with larger Social Security benefits than they earned. That’s essentially what the bill would do. …Many state...
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,...
"That will mean that beneficiaries will be able to keep pretty much all or most of their COLA increase," Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League,told CNBC.com this week. That may vary if you have money withheld from your monthly...
Current negotiations point to flat funding for the Social Security Administration, according to the National Committee to Preserve Social Security and Medicare, whilereports showthe agency already has long waits for service and outdated technology. Lack of adequate funding may challenge new Soc...
Each fall, the Social Security Administration sets its annual COLA based on the recent rate of inflation, part of an overhaul to the program that began in the 1970s that ensures senior citizens and other beneficiaries aren't losing purchasing power in the face of rising ...
Social Securityis a hot topic heading into theNovember election– and this week the Social Security Administration is likely to announce a slight increase in monthly checks for beneficiaries next year. According to estimates put forth by The Senior Citizens League, the cost of living adjustment for...
Social Security benefit rates rise in tandem with thecost of living, as measured by the U.S. Department of Labor’sConsumer Price Index (CPI-W). This index is boosted by increasedinflationrates that raise the cost of goods and services. To offset these costs and ensure that thepurchasing ...
Recipients of social security retirement benefits will get an 8.7% cost of living increase next January, according to an announcement by the Social Security Administration. It’s not every day that 20% of the U.S. population gets a big raise, but that is what happened Thursday when the...
My Social Security Account Website There's also the secureMy Social Securitywebsite, which, once you register for an account, provides immediate information about your benefits, whether you've started receiving them or not.7 This website's hours of operation are:8 ...
WASHINGTON (AP) — Seventy-year-old Cassandra Gentry is looking forward to a hefty cost-of-living increase in her Social Security benefits — not for herself but to pay for haircuts for her two grandchildren and put food on the table. The three live in a Washington apartment building that...