The Center for Retirement Research at Boston College has released a report on The Impact of Inflation on Social Security Benefits. Key finding:
[W]hile the inflation adjustment in Social Security is extremely valuable, the rise in Medicare premiums and the extension of taxation under the personal income tax mitigate the ability of beneficiaries to maintain their purchasing power. This erosion of retiree purchasing power is serious given that virtually all other sources of retirement income have no inflation protection at all.
1 comment:
Well I guess the no increase in Medicare Part B premium's for 2009 will give a larger portion of the 5.8 COLA to beneficiaries.
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