No Cost-of-Living Adjustment for 2016
Reading Time: 1 MinuteLast Updated: March 17, 2021
Social Security’s annual cost-of-living adjustment (COLA) is an increase in the benefit amount people receive each month. By law, the monthly Social Security and SSI federal benefit rate increases when there is a rise in the cost of living. The government measures changes in the cost of living through the Department of Labor’s Consumer Price Index (CPI-W).
The CPI has not risen since the last cost-of-living adjustment in 2015. As a result, your SSI benefit rate and, for most people, your Social Security benefit amount will stay the same in 2016.
This news isn’t necessarily bad. When inflation stays at the same rate, your cost of living also stays the same. Prices for goods and services, on average, haven’t increased enough to affect the COLA.
Other changes that would normally take effect based on changes in the national average wage index also won’t begin in January 2016. Since there is no COLA, the statute also prohibits a change in the maximum amount of earnings subject to the Social Security tax, as well as the retirement earnings test exempt amounts. These amounts will remain unchanged in 2016. The new fact sheet provides more information on 2016 Social Security and SSI changes.
For additional information about the 2016 COLA, go to www.socialsecurity.gov/cola.
For additional information about changes in the national average wage index, go to www.socialsecurity.gov/OACT/COLA/AWI.html.
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Tags: Cost of living adjustment, Disability, Medicare, SSA, SSI
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Jim Borland, Assistant Deputy Commissioner, Communications
Jim Borland, Assistant Deputy Commissioner, Communications
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Isabella
I I agree! Sandy 100%
Wake up America and smell the coffe………….
Gary on October 16, 2015 at 11:03 am said:
I I agree! with you Gary.
Do any of you believe the rich politicians will read or care about our complaints? Call them and let them know. Go to their web page and Email them. Stop re-electing them.
I THINK THAT’S WATH WE HAVE TO DO
Stop realecting them ……………….Att: Isabella.
Rotorhead
Why is it that Republicans are blamed for everything bad in this country while Democrats are in charge? It’s the Democrats who have run the Wars these past 7 years! It’s the Democrats who have allowed MILLIONs of illegals to come into our country, obtain driver’s licenses, receive Medicare, Food Stamps, Obamacare, and then when an anemic or zero COLA for Social Security is announced, it’s the Republican’s fault! People, wake up!! Obama and his administration are bleeding the Americans dry (can you say 20 Trillion dollar debt)! My fellow Americans, YOU are only reaping what you sowed… Obama! And now you want Hillary…? The brainwashing by the Democrats is just about complete…
Cathy
I don’t know about your reality but mine just had a rent increase, food costs are up ( $3.00 for 1 doz eggs ), not to mention meat, car insurance ( 16 yr old car & no accidents or violations in the last 14 yrs or more ), medication costs are up also. I have 2 meds I can’t even take because I can’t afford them. I’ll bet you still get a pay raise along with all the other polliticions and we pay your salary. Tell me that sounds fair. No wonder the older generation is in such bad shape. Add to think we’ve worked 25 or more years paying in to this. Maybe the government officials should live on our monthly income for a year. Put their feet in our shoes. Bet they would not like it but also have a hard time doing it too.
Samuel J.
I want to know …
James P.
That is a “Fox News’ explanation”, to mean manipulated to over-gloss the reality of a situation. -There are many of other costs than gasoline; there are tens of millions of people on Soc Sec that use public transportation. In NYC the MTA is consistently raising fares with no reasoning, and with no improvements to service; to continue, the price of food, rent, utilities are as well consistently rising.
On LI, NY property taxes have just risen, again, and as there as well, with No reinvestment into the community, not to infrastructure, or services for the people. (there are plenty of Foreclosed homes, out-of-business Brick&Mortars, barren grounds, and empty lots on Li, NY); gasoline prices there can vary as much as $1.50 per gallon.
Side-note: Trickle Down Economics must end. The Middle Class are the Majority, and we shall not be treated like dogs surrounding a dinner table; and the wealthy do not, by any means, aggrandize opportunity for adequate employment.
Incidentally, I do not think it is a coincidence that this decision correlates with President Obama’s decision to keep troops in Afghanistan longer. All paid-into, social programs’ money is being stolen from the people to compensate for the Billion$ wasted on the Military–industrial Complex, to keep unjustified wars continuing; moreover, little of those monies is allocated to Veterans themselves. As well rightly to include, to compensate Corporate Welfare, and the Tax Cuts for the Wealthy. This is Not proper of a Democracy, the People are Not to be slaved by Corporations, the Minority that hold the Majority of Wealth, nor by Compromised Politicians (bought politicians). Give The People Their Due.
-For the sake of accurate knowledgeable on the future of Our Soc. Sec. I want to share this Link, thank you.
Senator of Massachusetts Elizabeth Warren speaking on Social Security
https://youtu.be/MyByiZXhcXw
David B.
Well i would say it beats a blank but that’s what it is if you ever been through poverty you would know what i mean hunger hurts when i see little babies crying tears rolling down their face we should thankful for what we have .
Rick
Did somebody say SSI is going broke . We all need to hire attorney’s because are accounts, has been hack . I have been paying into SSI since 1972 . Maybe we could get into there accounts here and overseas and tell them there broke and see if they like it
Lauren C.
I agree with all of the above. There always seems to be money for welfare and illegal aliens. We need to put a stop to this. They are living better than we are for free and I’m tired of paying for theirs cellphone and tattoos. We have to stop these 200,000 “syrian refugees” (I use the term loosely) that want to come in and we have to support them and who are probably trying to kill us. I don’t like Trump but I like his politics. At least he is for America and Americans. I’m voting for him as anyone else running will give us more of this “politically correct” crap until there is no America left.
Tim
Well, that bites but so be life! Hope Obama is also cutting funding to aid illegal aliens in this country!
And or he could cut out some of the wasteful tax cut to the wealthy. We all must do our part! Cutting funding for the disabled on SSDI and the military is NOT the way to help this country!
Roger A.
Those people in DC are in there own little world, and don’t know what its like outside their world. Wish they would GET OUT MORE, and live like we do. They sit on their butts and nothing gets done. SOB should get out in the real world!