[Nfbf-l] No cost of living increase for social security recipients

[Joe and Kitty King]

Thank you for the updated information, Sherri.

Kitty
----- Original Message ----- 
From: "Sherri via Nfbf-l" <nfbf-l at nfbnet.org>
To: <nfbf-l at nfbnet.org>; <nfbf-Leaders at yahoogroups.com>
Cc: "Sherri" <flmom2006 at gmail.com>
Sent: Thursday, October 15, 2015 11:17 AM
Subject: [Nfbf-l] No cost of living increase for social security recipients


> Just passing this along unfortunately.
>
> No Cost-of-Living Adjustment for 2016
> Posted on
> October 15, 2015
> by
> Jim Borland, Assistant Deputy Commissioner, Communications
>
> pink pig
> Social Security's annual cost-of-living adjustment (COLA) is an increase 
> in
> the benefit amount people receive each month. By law, the monthly Social
> Security
> and SSI federal benefit rate increases when there is a rise in the cost of
> living. The government measures changes in the cost of living through the
> Department
> of Labor's Consumer Price Index (CPI-W).
>
> The CPI has not risen since the last cost-of-living adjustment in 2015. As 
> a
> result, your SSI benefit rate and, for most people, your Social Security
> benefit
> amount will stay the same in 2016.
>
> This news isn't necessarily bad. When inflation stays at the same rate, 
> your
> cost of living also stays the same. Prices for goods and services, on
> average,
> haven't increased enough to affect the COLA.
>
> Other changes that would normally take effect based on changes in the
> national average wage index also won't begin in January 2016. Since there 
> is
> no COLA,
> the statute also prohibits a change in the maximum amount of earnings
> subject to the Social Security tax, as well as the retirement earnings 
> test
> exempt
> amounts. These amounts will remain unchanged in 2016. The
> new fact sheet
> provides more information on 2016 Social Security and SSI changes.
>
> For additional information about the 2016 COLA, go to
> www.socialsecurity.gov/cola.
>
> For additional information about changes in the national average wage 
> index,
> go to
> www.socialsecurity.gov/OACT/COLA/AWI.html.
>
>
>
>
> Sherri Brun
> NFBF Newsline Chair
> flmom2006 at gmail.com
> President,
> NFB Central Florida Chapter
>
> Character is the side of yourself you choose to show the world.
> Integrity is what you do, what you say and how you act when you think no 
> one
> is paying attention.
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