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Social Security recipients to get 3.6 percent COLA
Posted: Oct 19, 2011 8:15 AM by Associated Press (AW)
Updated: Oct 19, 2011 8:16 AM
WASHINGTON (AP) - Some 55 million Social Security recipients
will get a 3.6 percent increase in benefits next year, their first
raise since 2009.
The increase was announced Wednesday when the government
released a key measure of inflation, which determines whether
people who receive Social Security get a cost-of-living adjustment,
or COLA.
About 8 million people who receive Supplemental Security Income
will also receive the 3.6 percent COLA, meaning the announcement
will affect about one in five U.S. residents.
There was no cost-of-living adjustment in 2010 or 2011 because
inflation was too low. Those were the first two years without a
COLA since automatic increases were adopted in 1975.
Monthly Social Security payments average $1,082, or about
$13,000 a year.
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