Social Security

Social Security COLA for 2014 delayed

According to the Bureau of Labor Statistics website the Consumer Price Index for September 2013 will not be released until Wednesday October 30th 8:30 am

The September CPI-W is the last factor needed to calculate the final COLA

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Categories: Social Security

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13 replies »

  1. Why do we think we should get a raise every year, here’s why – our retirement investments were destroyed when the market crashed, the cost of living has increased, my Homeowner’s went through the roof this year. Have you seen salaries today? They keep up with the COL however with us losing our investments we have little for back up when prices increase. If the government took the CPI for the whole year, we would have considerable more COLA’s, as it certainly seems as if the gas prices, etc seem to drop just at the time that COLA’s for seniors are calculated.

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    • Retirement investments were not destroyed at all. Since the market fell in 2008/2009 there has been a full recovery and more. The only people who lost out we’re those who moved their investments out of the market at the low point when they simply should have left them alone.

      Salaries do not keep up. In fact, many young people have gotten little or no raise and frequently not enough to offset the increase in their health insurance premiums at work.

      As for the COLA calculation it certainly is based on a full year. The calculation is based on the increase in the CPI-W for the months of July, August and September from one year to the next. In other words a twelve month period.

      The fact is those of us on Social Security and Medicare are getting back far more than we paid in and our children will be paying the bill. Incoming taxes are insufficient to pay SS benefits as they once were so they are now using interest on the Trust bonds, no new bonds are being purchased and in a few years the Trust will have to redeem bonds to pay benefits and the government will have to borrow more to pay the Trust when bonds are redeemed. Who will pay for all that? Should we simply raise the payroll tax on our children … again?

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  2. Sure CPI is calculated when gas prices are the lowest! Wonder why that happens every time it comes time for SS CPI for the year? Does anyone else suggest a possible payoff for this in Washington – another dirty deal with Congress ‘s hands out!! (I understand it will be around 1.5% – that hardly covers the increase in insurance premiums that increased If Medicare premiums increase we won’t get a raise, we will be paying the government to exist!!

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    • The CPI is calculated the same way at the same time year after year. It has nothing to do with Social Security. Why do we seniors think we are entitled to a raise automatically year after year when millions of working Americans haven’t had a raise in years, or worse lost their jobs?

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