As I’ve written before, there will be no cost-of-living increase in Social Security benefits in 2011. This is the second year in a row with no increase. Of course the reason is that inflation did not rise enough to trigger an automatic increase.
The actual rule is a bit complicated: the COLA is determined by comparing the change in the Consumer Price Index (CPI-W) from the third quarter of 2008, the last year that a COLA was determined, to the third quarter of 2010. There was no increase in that period. This is in contrast to the change from 2008 to 2009, which was 5.8 percent, the largest increase since 1982.
Please see full article below for more information.
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Published In:
Administrative Law Updates, Tax Law Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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