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New 2016 Social Security COLA Estimates Are In
(Source - disabilityand.me)
New estimates are in for the Cost of Living Adjustment (often referred to as COLA Increase) for 2016 Social Security Recipients and it does not look good. This morning the Department of Labor produced the CPI-W for the month of June 2016. The CPI-W for the months of July, August and September are compared to the years before to come up with an increased cost of living and Social Security Benefits are adjusted upwards if the cost of living increases. Read more…
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how much percents security rate in 2016
Sorry for the delay in responding. If I understand your question correctly, the Social Security rates for 2016 will remain at 6.2% for employees and 6.2% for employers (or 12.4% for self-employed, and the maximum taxable amount remains at $118,500 for 2016. Social Security recipients are not at present slated to receive an increase for 2016.
Gerry Hafer
AMAC Foundation