0.3% COLA Adjustment Announced for 2017

Oct 18, 2016

This is a marginal improvement over the 0.2% projected last week, and the 0% COLA from last year. For the average retiree, this constitutes a five dollar increase in benefits.

This 0.3% increase follows several years of low COLAs. The COLA has consistently been under 2.0% since 2012, stoking a debate regarding whether or not the current formula adequately reflects the spending needs of senior citizens.

The SSA’s COLA announcement may be read here. More analysis can be found from the Wall Street Journal here.

 

IMPORTANT NOTICE
This material is provided exclusively for use by individuals with an active license to the Savvy Social Security Planning Program. Use of this material is subject to the Social Security Planning Program Agreement and applicable copyright laws. Unauthorized use, reproduction or distribution of this material is a violation of federal law and punishable by civil and criminal penalty. This material is furnished “as is” without warranty of any kind. Its accuracy and completeness is not guaranteed and all warranties express or implied are hereby excluded.

© 2024 Horsesmouth, LLC. All Rights Reserved.