Attention All Journalists: 8 Things You Need to Know Before Reporting on the Social Security COLA

Co-authored by Nancy Altman and Eric KingsonPosted: 10/15/2012 9:35 am

On October 16, at 8:30 a.m., the Social Security Administration will post on its website the size of the Cost of Living Adjustment (COLA) for 2013. Experts estimate that the 2013 COLA will increase Social Security benefits in nominal dollars by between 1.5 and 1.7 percent. The adjustment applies to the monthly payments received by the more than 56 million seniors, people with disabilities, spouses, divorced spouses, surviving spouses, children, and others. Because many politicians are proposing cutting the annual COLAs as part of a deficit reduction plan, the announcement has even more importance than ever.