Blogs

No SSDI Cost of Living Adjustment for 2016

December 14, 2015

There was No COLA Adjustment for 2016

cost of living 2016

The Cost of Living remains flat. So do Social Security and SSI benefits.

Around this time each year, Social Security announces Cost of Living (COLA) adjustments. Due to the fact that consumer prices remain down, there is no automatic increase in Social Security or Supplemental Security Income benefits this year.

What is COLA?

Each year, the Department of Labor uses statistics to determine whether there is a, “rise in the cost of living.” If there is, monthly Social Security and SSI federal benefit rates increase. If there is not, the benefit amount stays the same.

Resource Limits for SSI

The resource limits for SSI also remain the same this year. That is $2,000 for an individual and $3,000 for a couple.

What Does this Mean for You?

What this means is that your Social Security or SSI benefits will remain the same. In addition, the amount of money you may have in order to be eligible for SSI remains the same as well.

LOWENTHAL AND ABRAMS, P.C.

LOWENTHAL AND ABRAMS, P.C.
N/a
The National trial lawyers
Philadelphia life
Suburban life
Logo
ASLA
Multi million doliar
Advocates Forum
Logo
2019-10-BEST-PIA
Logo
Logo
How Can We Help?

Contact us for a FREE consultation. No fee unless compensated.

Bala Cynwyd
Philadelphia
Harrisburg
Pittsburgh
Erie
Cherry Hill
East Brunswick
New York
Tully