Officially no COLA Increase for Social Security in 2016
For only the third time in the last four decades, Social Security benefits will not be receiving an increase in pay outs. This is because of the most recent government review of the measure of inflation in the last year, what is mainly being attributed to the decreased cost in gas. The only other two times that this has happened have been since 2010. This will effect over 70 million beneficiaries, 7.5 million of which will also see a rise in their Medicare Part B premiums. To learn more about this, and see how it affects you, visit this article by The Associated Press with nbcnews.com.
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