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Social Security recipients will see their benefits rise 1.5% next year thanks to annual cost-of-living adjustments, according to an announcement earlier today from the Social Security Administration.
The Social Security Administration has implemented a variety of new rules and features for 2013. The two-year payroll tax cut has officially ended, and paper Social Security checks will soon cease ...
As a result of the 2008 financial and mortgage crisis, a hefty 5.8% increase in COLA was applied in 2009, the most significant increase that Social Security benefits had seen since 1982.
However, if the break in service is greater than 365 days, the employee is also covered under Social Security and will be deemed CSRS Offset. Overall benefits paid to CSRS or CSRS Offset employees will remain equitable based on the number of years of creditable service and CSRS formula upon retirement. CSRS and CSRS Offset employees with a ...
If Social Security benefits were reduced by 3% to 5% for new retirees, about 18% to 30% percent of the funding gap would be eliminated. [citation needed] Average in more working years. Social Security benefits are now based on an average of a worker's 35 highest paid annual salaries with zeros averaged in if there are fewer than 35 years of ...
Data source: Social Security Administration. Table by author. You might have noticed the amount of the COLA was 0% in three years: 2009, 2010, and 2015.
The average Social Security COLA since 1975. I won't keep you in suspense. Since the modern method of determining the Social Security COLA went into effect in 1975, the average has been 3.77% ...
The Social Security program has existed since 1935, but COLAs were not introduced until the mid-1970s. Back then, the adjustments were much larger than they are now. Between 1975 and 1982, COLAs ...