COLA Change: How Much Would You Lose?
Posted on 02/13/2013 by Kim Keister | News | Comments
Bulletin Today | Money & Savings | PoliticsThe chained CPI — a proposal to change the way the cost-of-living adjustment (COLA) is calculated for Social Security and veterans benefits — can be as confusing as its name. And with it comes a number of daunting statistics: Retirees and veterans would lose $129 billion in benefits over the next 10 years. If you’re 62 and take early retirement this year, by age 92 you’d be losing the equivalent of a full month of income every year. Poverty rates …
