3.3.1.8 COLA2
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| a The COLA for December 1999 was originally determined as 2.4 percent based on CPIs published by the Bureau of Labor Statistics. Pursuant to Public Law 106-554, however, this COLA is effectively now 2.5 percent. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Social Security Administration projects no cost-of-living increases for the next two years because the adjustments are pegged to inflation, which has been negative this year, largely because energy prices are below 2008 levels. It will be the first time without an increase since automatic adjustments were adopted in 1975.
Source: The Enquirer Sept. 25, 2009. House moves to stop Medicare hikes. By Stephen Ohlemacher The Associated Press.
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Wages and benefits rise a weak 1.5 percent in 2009
The Associated Press (Enquirer 2/1/2010)
For the entire year, wages and benefits were up 1.5 percent, the weakest showing on record that go back to 1982. The 1.5 percent increase in total compensation in 2009 was about half the 2.6 percent increase in 2008, and both years had the smallest gains for the government’s Employment Compensation Index.
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Last year, wages were up by 1.5% and benefits rose by the same 1.5%, both record lows. In 2008, wages and salaries were up 2.7% and benefits which cover such things as health insurance and pension contributions, rose by 2.2 percent.
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The slow growth in employee compensation has allowed the Federal Reserve to keep interest rates at record low levels in an effort to jumpstart economic activity because wage pressures, often a major force driving inflation higher, have been absent.
MEDICARE DEDUCTION INCREASE
For those of you who are on Medicare, read the article below.
It is about the monthly amount of money you are going to pay into Medicare in 2011, 2012 and the huge increase you will pay in 2013. It’s a short important article: You will pay it.
Social Security
Congress will not allow an increase in the social security COLA (cost of living adjustment). However, the per person monthly Medicare insurance premium will be increased from the 2009 premium of $96.40 to $104.20 in 2010, $120.20 for the year 2011 AND Yearly increases to a wonderful $247.00 in 2014. Thank You Obamacare!
Congress also gave themselves a $3,000 a month Cost of Living Adjustment!
This email was sent by a City of Montgomery resident.
2012 raise looks doubtful for most Social Security recipients
Millions of retired and disabled people in the United States had better brace for another year with no increase in Social Security payments.
When Medicare premiums rise more than Social Security payments, millions of people living on fixed incomes don’t get raises.
The COLA will be announced in mid-October.
By Stephen Ohlemacher, Associated Press. The Enquirer 3/28/11 Front page
Just Released!
Sycamore Average Teacher Salary jumped $2,928 (4.3%) to $71,137
“For the second straight year, more than 58 million retired or disabled Social Security beneficiaries won’t get a raise.
As expected, the Social Security Administration announced Friday that beneficiaries won’t get a cost-of-living allowance (COLA) in 2011. Social Security made the announcement after the government reported that the consumer price index rose just 0.1% in September.”
Source: The Enquirer October 16, 2010. USA TODAY “Social Security again plateaus” By Sandra Block and David Jackson USA TODAY