cost of living adjustment

COLA Announced at 1.3% for 2021

Picture of a woman unpacking groceries in her house October 23rd, 2020

People with disabilities who receive SSDI or SSI will soon see their payments increase. 72 million Social Security and Supplemental Security Income recipients will see a 1.3% cost-of-living adjustment (COLA) to their monthly benefits beginning January 1st, 2021, an increase even smaller than last year’s. In 2021, the monthly federal SSI payment standard will be…

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What is the 2020 COLA?

woman paying bills October 14th, 2019

The Social Security Administration recently announced the cost-of-living adjustment (COLA) will be 1.6% in 2020.  This increase applies to those receiving disability, retirement and veterans’ benefits. What is a COLA and How is it Determined? The COLA was created in order to increase benefits to account for the rising cost of consumer goods and inflation….

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