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New Legislation Proposed for 2016 COLA
Many legislators have been scrutinizing how COLA is calculated in regards to the yearly Social Security raises. With this year marking the third year in the past ten without a yearly increase, many think we need to reassess how the calculations work. Some in congress are proposing a new system based on the current one that is more focused on how the elderly spend money, citing that it would be a more accurate and sensible way to base Social Security benefits off of. To learn more about this proposed legislation visit this article by Ian Smith with FedSmith.com.
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