No Cost Of Living Increase For Social Security Recipients

By Scott Sarvay

October 15, 2010 Updated Oct 15, 2010 at 4:20 PM EST

WASHINGTON (Indiana's NewsCenter) - It’s now official; if you're one of 58 million Americans who get a social security check you won’t be seeing any extra money next year.

Inflation has been too low since the last increase in 2009 to warrant an increase for 2011.

The announcement from the Social Security Administration this morning marks only the second year without an increase since automatic adjustments for inflation were adopted in 1975.

The first year was this year.

Cost-of-living adjustments, or COLAS, are automatically set each year by an inflation measure that was adopted by Congress back in the 1970s.




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