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10/09/2013 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Washington – The government shutdown has reportedly put a delay in when an announcement will be made regarding the amount of the cost of living adjustment for Social Security payments. As reported by the Associated Press (AP), Social Security was set to make an announcement of the raise on October 16. The Labor Department stated Wednesday that it would be unable to release inflation statistics for September, which are used in the calculations of next year’s automatic benefits increase, as scheduled due to the shutdown, making the government unable to announce the COLA.
Max Richtman, who heads the National Committee to Preserve Social Security and Medicare, is quoted by the AP as stating of the impact of the delayed notice, “There’s enough anxiety around right now. We don’t need to add to it by delaying information… They expect it. You talk to seniors, they know when the announcement comes out and they watch it very carefully.”
The COLA will reportedly take effect for payments in January.
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