The first Cost of Living Adjustment (COLA) was approved by Congress in 1975. The annual increase is based upon increases in the Consumer Price Index.

In October, 2016, Social Security announced the annual Cost of Living Adjustment that will go into effect January 1st, 2017. Unfortunately, this year's increase is only 0.3%. Last year (2016) it was 0%. It is important to plan in advance so that when SSA COLAs are low, or if benefits are cut, consumers can have some emergency funds available to help ensure they will continue to enjoy a meaningful lifestyle.

For people with disabilities and for retirees, the annual COLA is very important because many people rely upon their monthly Social Security payments in order to subsist.

For people with people with disabilities the annual COLA helps them meet their monthly living expenses. This is important especially if they are not working and they have no earned income to supplement their benefits For retirees the COLA is important because that increase helps them preserve their retirement nest egg. If the increase is significant the retiree will use less of their savings to supplement their monthly Social Security check.

Work Incentives were established to help people understand that they can work and still receive benefits.

Our office has included the 2017 changes for you . Please click on the link below. You may print this sheet and share it with other people who need this kind of valuable information.