After a two years freeze in Social Security benefits, a thaw may finally be coming. The Baltimore Sun reports:
The Social Security trustees’ annual report released this month estimates that the cost-of-living adjustment in next year’s checks will be 0.7 percent. The increase, which will be announced in October, could be higher, depending on where prices head in the coming months.
So, we won’t know for sure until October and the increase may be as small as 0.7 percent, and not put into effect until 2012. Hurray(?)
UPDATE 10/18/11: The 0.7 increase was the only news of an increase in 2012 for a long time. AP reports a real cost of living increase is coming to Social Security in 2012.=========================================================
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