Based on the CPI-W for April, May and June 2014, the projected COLA for 2015 will be 1.65%.
Remember, the months that actually matter in calculating the COLA are July, August and September. The final COLA will likely be a bit different.
We can’t control what others do and we can’t stop misfortune from striking. But we can control our own actions. Those who are financially prudent will most likely enjoy success, even if events don’t always go their way.
QUINNSCOMMENTARY 
The 1.65% increase is a lie. It falls far short of the actual increase.
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You are a bit behind the times. There will be no increase in 2016
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Why do the people of Congress approve such a low COLA?? They vote themselves humongous raises,and those on Social Security suffer. What’s “fair” about this? NOTHING!!! Perhaps everyone in D.C. should,…..NO….MUST step into those shoes!! Maybe then, and only then would they understand what it’s like to live on pittance!!! Any rebuttals out there??? Feel free to comment back!
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You are misinformed. Congress does not approve or disapprove Social Security COLAs. The formula is fixed by law and calculation is automatic. Also, Congress has not noted itself large raises. In fact, in recent years there were no raised several times.
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HOW CAN WE LIVE WHEN MILK IS $4.35 A GALLON AND MEAT, WHO EATS MEAT ANY MORE. TOO EXPENSIVE AND HEATING OIL, OR ELECTRIC HEAD. TERRIBLE. SO TERRIBLE, CANNOT EVEN SAVE FOR EMERGENCYS. TAKES ALL OUR RETIREMENT TO MAKE IT IF YOU CAN CALL THIS RETIREMENT. GUESS WE WILL ALL HAVE TO GO ON FOOD STAMPS OR MEDICADE. BUT OUR GOVENER HAS CUT OUT FOOD STAMPS AND MEDICADE. SAD
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In my opinion if s.s. Would start going after the deadbeats that collect ssi and their fake injuries and collecting a free check every month instead of getting a real job, then the poor elderly people,that really need it and the ones that worked all their lives, would Live a lot better. Is it fair that the lady that lives next door collects ssi for having poor legs and knees because she is 75 pounds over weight collects the same as the lady 3 doors away that worked 40 years all of her life. Kick these people to the curb, I am tired of these deadbeats who claim back injuries but you see them moving a heavy dresser up the steps to their house and picking up heavy 2 x 4′,s to remodel a garage and climbing up ladders.
This nation is going to hello really fast…..where are our congressmen? 1.65 % is nothing especially when the cable companies are rapping us so bad or the tax collectors raise taxes 20% . Thanks S.S.
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so what does this mean in terms of how much of a raise dollarwise will people getting Social Security get in January 2015?? It would help to know..how do they figure this out..??thanks
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The dollar amount a person receives varies by the amount of their Social Security benefit. For example, if the monthly benefit is $1300 and the final increase is 1.65% then they receive a raise in benefits of $21.45.
As far as what a person receives in their pocket goes, you must consider some of the $21.45 may be lost to an increase in the Medicare Part B premium.
Dick
Richard D Quinn
Blog http://www.quinnscommentary.com Twitter @quinnscomments
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I see how you arrived at the 1.65 figure… you averaged the last three months
of this year subtracting the official July, Aug, Sept average from last year.
But last month [June] by itself is a 1.90 increase over last year’s official average.
So this years July, Aug, Sept average would have to decrease for the final figure
to be 1.65. I don’t see that happening… when the general trend this year is up.
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Ok well I had to take early SS..and am getting only $708..monthly..so..how do they figure what ill be getting in January..do they multiply the 1.65% times the benefit amt. or do they divide or what?? id really like to know..i wish they would up it a good amt..but..on everything im reading..i dont know about that..
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If the increase is 1.65% your increased benefit would be $719 monthly.
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It means we get the boot again. Nothing left after everyone else takes their cut.
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Thanks..for the information..i wish it would be higher..but hey..any little bit helps..
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Dick with the slight increase in SS benefits expected next year what impact will this have on Part B Medicare increase for
January 1 , 2015? Perhaps you can confirm how the Part B increase will be determined for the upcoming year ?tx John
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A small increase in the COLA will limit the increase in the Part B premium because the law does not allow a Social Security benefit to be reduced because of an increase in premium. The exception is higher income people who are paying a supplemental Medicare premium. For those people the premium can go up regardless of any COLA amount.
Dick
Richard D Quinn
http://www.quinnscommentary.com
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I’m showing the June projection to be 1.90. 1.65 was the May projection.
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Correction… 1.69 was the May projection.
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Average CPI-W 2014
A, M, J = 234.1203
230.326 avg CPI-W Jul, Aug Sep 2013. I get difference of 1.65
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Another social security cola alert = another invitation to the conspiracy whackos to complain how they are getting screwed. Let’s hear it BJ.
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