2009 Social Security COLA - 5.8%

[villages07]

The final calculation for the 2009 Social Security and Federal CSRS retirement COLAs has been made. The annual increase will be 5.8% and will appear in January's check. This is the largest increase since 1982 and reflects what we have all seen in increased cost of goods and services.

Just an FYI...not intended to start a Political discussion.

[Hyacinth Bucket]

07 I know when I go shopping the prices for groceries have gone up as well as gas, heating oil etc.

I thought the COLA would have been higher.

Do you know when they calculated the COLA?

HB

'Be who you are and say what you feel...
Because those that matter... don't mind...
And those that mind... don't matter.'

[villages07]

From Social Security website...

After 1982, COLAs have been based on increases in the CPI-W from the third quarter of the prior year to the corresponding quarter of the current year in which the COLA became effective.

CPI-W is consumer price index for wage earners. Up until 2 months ago, it was on track for a 6.2% increase, but prices (mainly oil)have moderated. 3rd quarter ended Sept 30.

[Hyacinth Bucket]

07 - Thanks,

HB

[MMC24]

Well, that is good news, now if only I could get some sort of increase on my disappearing 401K balance I would really have a good day.

[JohnN]

MMC24, I hear ya' about the 401K, Ouch