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May Be No Cost-of-Living Increase for 2016
2016 may see no increase in payouts for Social Security Benefits. Benefits have been on a schedule of yearly increases since 1975 in order to combat inflation. The increases are tied to Cost of Living calculations according the Consumer Price Index for urban and clerical wage earners, known as CPI-W. The final decision will be made towards the end of October, at the end of the third fiscal quarter, where inflation will be calculated based on comparisons from previous years price indexes. To learn more about this, join Russ Wiles with USA Today.