{"id":834,"date":"2011-10-18T17:58:39","date_gmt":"2011-10-18T17:58:39","guid":{"rendered":"https:\/\/newlindisability.com\/?p=834"},"modified":"2011-10-18T17:58:39","modified_gmt":"2011-10-18T17:58:39","slug":"seniors-will-get-cost-of-living-adjustment-from-social-security-in-2010-report","status":"publish","type":"post","link":"https:\/\/newlindisability.com\/blog\/seniors-will-get-cost-of-living-adjustment-from-social-security-in-2010-report\/","title":{"rendered":"Seniors Will Get Cost-of-Living Adjustment from Social Security in 2010: Report"},"content":{"rendered":"<p>Senior citizens should enjoy a cost-of-living adjustment (COLA) from the <strong><a href=\"\/\/www.ssa.gov\/\" target=\"_blank\" rel=\"noopener\">Social Security Administration<\/a><\/strong> in January, according to Massachusetts nonprofit group <strong><a href=\"\/\/www.aier.org\/\" target=\"_blank\" rel=\"noopener\">American Institute for Economic Research (AIER)<\/a><\/strong>. This will be the first time in two years that benefits recipients will get a COLA, which is designed to ensure that the agency\u2019s benefits account for inflation.<\/p>\n<p><strong><a href=\"\/\/www.csmonitor.com\/Business\/2011\/1017\/Social-Security-seniors-to-see-COLA-increase-in-2012\" target=\"_blank\" rel=\"noopener\"><em>The Christian Science Monitor<\/em> reports <\/a><\/strong>that prior to this two-year impasse on COLA, the rate had increased for beneficiaries every year since 1975. The Great Recession, however, lowered consumer prices so that COLA couldn\u2019t increase.<\/p>\n<p>\u201cIt\u2019s important to remember that the typical older American today lives on an income of roughly $20,000, and Social Security keeps nearly a third of older Americans out of poverty,&#8221; said Tiffany Lundquist, spokeswoman for the\u00a0AARP. &#8220;After two years with no COLA and increasing costs for food, utilities and health care, every dollar of the modest average benefit of $14,000 is critical.\u201d<\/p>\n<p>AIER estimates that the COLA will be somewhere between 3.5 and 3.7 percent. The exact adjustment is expected to be announced on Wednesday or soon thereafter when<strong><a href=\"\/\/www.bls.gov\/\" target=\"_blank\" rel=\"noopener\"> the U.S. Bureau of Labor Statistics<\/a><\/strong> issues its Consumer Price Index for Urban Wage Earners and Clerical Workers for September 2011.<\/p>\n<p>\u201cThe COLA index is based on average price of goods and services as consumed by workers, not by retired people,\u201d AUER research fellow Polina Vlasenko\u00a0told <em>The Christian Science Monitor<\/em>. \u201cRetirees tend to spend more on health-care and goods and services, and those prices increase faster than the national average. So COLA may not fully compensate for what that they spend their money on. The index isn\u2019t ideal for retired persons, but it is what it is.\u201d<\/p>\n<p><strong><a href=\"\/\/www.csmonitor.com\/Business\/2011\/1017\/Social-Security-seniors-to-see-COLA-increase-in-2012\" target=\"_blank\" rel=\"noopener\">Read more. <\/a><\/strong><\/p>\n<p>Do you think the Social Security Administration\u2019s COLA adjustment is high enough?<\/p>\n<p>If you need help with your Social Security Disability benefits, contact the\u00a0<strong>Social Security Disability lawyers<\/strong> at Newlin Disability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senior citizens should enjoy a cost-of-living adjustment (COLA) from the Social Security Administration in January, according to Massachusetts nonprofit group American Institute for Economic Research (AIER). This will be the first time in two years that benefits recipients will get a COLA, which is designed to ensure that the agency\u2019s benefits account for inflation. The [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":4666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[51],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/posts\/834"}],"collection":[{"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/comments?post=834"}],"version-history":[{"count":0,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/posts\/834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/media\/4666"}],"wp:attachment":[{"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/media?parent=834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/categories?post=834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newlindisability.com\/wp-json\/wp\/v2\/tags?post=834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}