What will cola be in 2018




















Digital networks will power the future of accounting. By Daniel Hood. Tax-related court cases. Tax Fraud Blotter: Bad policies. By Jeff Stimpson. FASB eases discount rate guidance for nonpublic lessees. By Michael Cohn. That is also higher than the COLA for , which was just 1. That happened in and , as the economy struggled to recover from the Great Recession, and again in , when plummeting oil prices swept away any chance of a COLA for that year.

National average prices are used, not regional. SSA also calculates the percent change between average prices in the third quarter of the current year with the third quarter of the previous year. Skip to header Skip to main content Skip to footer. Home retirement. Most Popular.

As of September, nearly 62 million people were receiving a monthly check from Social Security, including You could rightly say that without Social Security, these seniors would be in big trouble, financially. For all beneficiaries, and especially seniors, no time of the year is more important than mid-October. This often includes adjustments to the maximum monthly payout at full retirement age, inflationary adjustments tied to the earnings test, and, of course, the announcement regarding Social Security's cost-of-living adjustment, or COLA.

COLA is a term that describes what, if any, raise Social Security recipients will receive in the coming year. On Oct. Many retirees, though, may not see much of a bump in their check as a result of Medicare Part B premiums eating up their COLA next year. But you might be wondering how the SSA determines what sort of raise its beneficiaries should get from one year to the next.

Let's take a closer look. The CPI-W has eight major spending categories that cover various goods and services. While many of these categories are pretty straightforward, a few may not be. For instance, "other goods and services" encompasses personal services such as haircuts, along with certain discretionary items such as tobacco and smoking products. In a few rare instances you may also find an expense that you'd expect to be in one category in another.

For example, fuel oil, which is used as a heating source in homes, is a component of the housing category and not lumped in with gasoline in the transportation category.

Previously, COLAs were suspended from through For this year, the increase was 1. Social Security describes their calculation in further detail on their website. If you began receiving your SERS benefit on or after April 1, , you must wait until the fourth anniversary of your allowance before you are eligible to receive a COLA. Not all benefit recipients will receive the 0.



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