Social Security's Cost of Living Adjustment (COLA) is based upon the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the last quarter of one calendar year and the first three quarters of the next. This means that the COLA for 2013 will be based upon the one year time period ending September, 2012. As of the last month for which figures are available, July, the COLA would be eight-tenths of one percent. This could certainly go up or down when the figures come in for July and August but it looks like we're heading for a COLA of less than one percent.
1 comment:
It's Bush's fault...No, no, it's the fault of the Republicans in the House!
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