Social Security's COLA Pops in '06.
Kiplinger's Ask Kim Web Column, October, 2005
Byline: Kimberly Lankford, Kiplinger Washington Editors What will the social security cost of living adjustment (COLA) be for 2006? How does this compare to the inflation adjustment in previous years? The Social Security Administration just announced that social security beneficiaries will receive a 4.1% cost-of-living adjustment for 2006.
That translates into a $39 increase for the average retired worker -- to a monthly payout of $1,002. This increase is a lot larger than it had been in recent years, with a 2.7% cost-of-living adjustment last year and no increase above 3.7% since 1990. For a full list, see the Social Security Administration's COLA information page. On the downside, people on medicare will be spending a larger chunk of...
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