COLA Watch 2018: About Two Weeks to go!
Just after the midpoint of October, the Social Security Administration is expected to announce the cost-of-living adjustment (COLA) beneficiaries will receive in 2018. Certainly one of the most closely-watched of economic barometers–at least by that segment of the population drawing Social Security benefits–COLAs represent what amounts to a raise in monthly benefit payments, and the importance of that raise can not be understated for the large portion of the population relying on Social Security for half or more of their total income. The Motley Fool’s Sean Williams offers some background on what to expect with the mid-month announcement, as well as some related changes for the coming year. Read his article here…
Note also that the subject of COLAs for Social Security beneficiaries is a major component of the “Social Security Guarantee” being advanced by the Association of Mature American Citizens (AMAC) as a solution to Social Security’s long-term solvency problem. The AMAC proposal calls for guaranteeing an annual adjustment for all beneficiaries, using a tiered approach that helps to increase benefits for those with lower income. Learn more about AMAC’s Social Security Guarantee here…