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mpt1947

COLA Increase for 2012?

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mpt1947

This question is bound to come up, in fact there is a bit of a discussion going on now related to a news report that someone heard regarding cutting Veterans and Military Benefits in order to Balance the Budget. Since I could not find any information about such a proposal, i wondered if it my have something to do with COLA - so I did some research - because I know it is going to come up.

 

I found this article on the SSA Website.

 

Generally, your benefit amount will increase each year to protect you against inflation. Social Security provides an annual cost-of-living adjustment (COLA) based on increases in the consumer price index. Because there is no increase in the consumer price index from the third quarter of 2008, the last year a COLA was determined, to the third quarter of 2010 there can be no COLA in 2011.If there is an increase in the consumer price index in future years, your benefit amount will increase accordingly.

 

Now the way I read this COLA is determined by looking at the Price Index for the 3 quarter of any year - July, August and September - and comparing that to the 3 quarter in the last year there was an increase.

 

The last year there was an increase was 2008 - Now it doesn't matter what the cost of goods were in January or June of 2011 or what they might be in October of 2011 - COLA only looks at the 3 quarter and then compares that to the 3d Quarter of 2008

 

So, if the price of say gas was $3/gal in July, August, and September in 2008, and the price of gas and other goods only average $2.70 in July, August and September of 2011 - no matter if gas was $4/gal in January - then there will be no increase.

 

COLA increases for the VA and Military Retirement use the same formula as SSA uses.

 

COLA is an automatic feature and although some us would like to blame the Conservative House of Representatives and others would like to blame the socialist President (why a socialist would prevent a payment to the people beats me), they have nothing to do with it - and from a PR perspective that has to suck for them

 

http://ssa-custhelp....d/199/related/1

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David Spicer

MOAA keeps track of it:

http://www.moaa.org/colawatch

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mpt1947

Found this Update - now there are at least two articles indicating an increase of 3.5%

 

Better then a Poke in the Eye with a sharp stick

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John B

You (OP) are partially correct. The reason why there has been no increase in COLA is because the items compared have been changed. Most of the items prices that are part of the current equation are things with very stable prices. I.E. 2 + 2 = 4 everytime. But 1 + 1 + 2 = 4 also. Same result but differant path. Just a back door way of denying increases while lying to your face about the reason why.

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tom_shor

You (OP) are partially correct. The reason why there has been no increase in COLA is because the items compared have been changed. Most of the items prices that are part of the current equation are things with very stable prices. I.E. 2 + 2 = 4 everytime. But 1 + 1 + 2 = 4 also. Same result but differant path. Just a back door way of denying increases while lying to your face about the reason why.

 

So what items are they actually comparing? Because the price has gone up on almost everything I have seen.

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roadhaze

It's been taken away till obama is gone I think. His wife needs to take more of her friends on another world wide vacation.

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SkyMan

I think they will make a determination soon after the CPI-W for September is determined.

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tiger31

I think you guys should refuse an increase and help out uncle sam in these hard times after all your livin it up in the phillies :rofl: lol

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CardiacKid

I think you guys should refuse an increase and help out uncle sam in these hard times after all your livin it up in the phillies :rofl: lol

I would post an appropriate response to your post but I would be banned for life. I shall pray for you.

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tiger31

I would post an appropriate response to your post but I would be banned for life. I shall pray for you.

don,t bother praying for me brother as i too would get banned

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RandyOdom

It's been taken away till obama is gone I think. His wife needs to take more of her friends on another world wide vacation.

I'm sorry but the President has no control over this. He can ask Congress for a one time payment, but with Republicans in control of Congress, no such luck.

Edited by RandyOdom

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Headshot

I think you guys should refuse an increase and help out uncle sam in these hard times after all your livin it up in the phillies :beer2: lol

I think you should take your life savings and all of your income and just donate it to the IRS. You are certainly loose with other people's money (and lives). Maybe you should just be free with your own.

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tiger31

I think you should take your life savings and all of your income and just donate it to the IRS. You are certainly loose with other people's money (and lives). Maybe you should just be free with your own.

listen corporal bigshot im takin a leaf outta your book as you seem to butt into other peoples threads thinkin you know how to fix the world . jack of all threads master of none springs to mind .the trouble with SOME of you ex military guys you,ve spent too many years telling people what to do you carry on into civillian life . and why would i donate my dosh to the irs who in turn give it to pakistan in aid and who hates the americans well most of them.the american dream is dead and burried .

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Headshot

and why would i donate my dosh to the irs who in turn give it to pakistan in aid and who hates the americans well most of them.the american dream is dead and burried .

And yet...you are than willing to do the same with OTHER people's money. Retired military haved EARNED their retirement...probably more so than anyone else in the world. Stop being such a TROLL. It isn't appreciated...at all.

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tiger31

And yet...you are than willing to do the same with OTHER people's money. Retired military haved EARNED their retirement...probably more so than anyone else in the world. Stop being such a TROLL. It isn't appreciated...at all.

do not post any further comments on my threads sir period

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