SSA COLA Increase

SSA has announced that there will be 3.6 percent cost-of-living adjustment (COLA) for Social Security and SSI beneficiaries in 2012. This is the first increase since 2009. 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 2011. The last COLA increase in 2009 was 5.8 percent, the largest increase since 1982.

The average monthly benefit in 2012 for all disabled workers will be $1,111 (vs. $1,072 in 2011). For a disabled worker, spouse, and one or more children, the average monthly benefit in 2012 will be $1,892 (vs. $1,826 in 2011).

Articles contained here are not intended to provide legal advice, only providing general information. We encourage individuals to consult with an attorney regarding individual circumstances.