Q & A

Did Social Security always have a COLA?

Answer: With the 1.5 percent cost-of-living adjustment (COLA) about to begin, it is worth noting that many pensions do not have any cost-of-living adjustment (COLA) provision. Unlike the inflation protection provided by Social Security retirement, survivors and disability benefits, for pensions lacking a COLA mechanism your starting amount is your final amount, even if you receive the pension for many years. Read more…

Source: Howard Kossover, GrandForksHerald.com – December 21, 2013

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