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Member
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Join Date: Mar 2010
Posts: 496
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Member
Join Date: Mar 2010
Posts: 496
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2019 Social Security COLA increase will be largest since 2011
" Social Security’s beneficiaries can expect a bump in benefits in 2019, courtesy of a Cost of Living Adjustment, which will be formally announced October 11.
Social Security COLAs reflect inflation rates and are based on third quarter measurements of the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the CPI-W.
Inflation in July was 3.2 percent, and 2.9 percent in August, according to the Bureau of Labor Statistics. September’s number will determine if next year’s COLA increase will exceed 3 percent, the highest increase since 2011, when Social Security checks increased 3.6 percent after two years of no COLA increases."
A 3 percent COLA increase would amount to a $42.12 increase in monthly checks, or an annual raise of $505.44."
Full article can be found HERE
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