So, the senator proposes reducing the cost of living adjustment by 1 percent.
CNN: Budget cutters take hard look at Social Security - Sept. 27, 1995
Can a lower cost of living adjustment be sold to the public?
CNN: Budget cutters take hard look at Social Security - Sept. 27, 1995
The consumer price index, which determines that cost of living adjustment, is too generous, according to a study commissioned by the Senate Finance Committee.
CNN: Budget cutters take hard look at Social Security - Sept. 27, 1995
She doesn't count much on the annual cost of living adjustment.
CNN: Budget cutters take hard look at Social Security - Sept. 27, 1995
Members of Congress are talking about reducing the cost of living adjustment for Social Security, and it no longer seems to be such a political taboo.
CNN: Budget cutters take hard look at Social Security - Sept. 27, 1995
To enable the Railroad Retirement Board to adjust the amount of benefits payable under the Railroad Retirement Act at the time the cost of living adjustment is applied.
As a consequence, technically, seniors were not eligible for a Cost of Living Adjustment, to have it go up because prices did not go up in the aggregate.
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Even if a person is fortunate enough to have a pension, many pension plans do not have a Cost of Living Adjustment (COLA) provision, so purchasing power goes down each year.
Mary Vanek, executive director of the Public Employees Retirement Association in Minnesota, which reduced the cost of living adjustment from 2.5% to 1%, said potential lawsuits were a concern considered amid the rollback.
Each year when the Social Security Administration announces the Cost Of Living Adjustment to benefits for the coming year, with similar ballyhoo they announce the maximum benefit amount available for the coming year.
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The President did concede that there are times when "you could temporarily put a ceiling on a cost of living adjustment, " which he correctly pointed out would not be a cutback but simply a reduction in the amount of increase.
Starting at the end of December, millions of Social Security recipients will start to see higher payments due to the cost-of-living adjustment (COLA) increase.
This has become a topic of fierce debate on the state and local levels as well, where about 86 percent of full-time government workers or about 55 million employees are covered by old-fashioned pension plans that guarantee retirees a certain amount of income plus an annual cost-of-living-adjustment tied to the CPI.
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The way Social Security is set up is each year there's a cost-of-living adjustment.
The way the system works is you automatically get a cost-of-living adjustment based on the inflation rate.
Earlier this month, President Barack Obama proposed to tweak the formula for calculating the cost-of-living adjustment, or COLA, for Social Security recipients.
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We expect that people will be getting a cost-of-living adjustment this year because there has been some significant inflation, particularly in food and fuel prices.
"We should be looking for where is the best broad-based technical agreement on what is the most accurate cost-of- living adjustment, " said Gene Sperling of the National Economic Council, speaking on Fox.
In February, Colorado lawmakers passed a bill that reduced the pension system's cost-of-living adjustment from a fixed 3.5% a year to a maximum of 2% but possibly less for current and future retirees.
So if you consider, like, the adjustment to cost of living for Social Security beneficiaries, is there a commitment or desire by the President to make sure that money is kept to shore up Social Security, not as part of the broader package?
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