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Ask the Times
By Times Wires
Published December 4, 2007
What factors are used in Social Security cost of living raises for 2008 compared with five or 10 years ago? - M. Lavery, Dunedin Social Security benefits and raises have been tied to inflation since 1975. The government sets the increase from the change in consumer prices between July and September compared with the same period the previous year. Some years, that helps recipients. In 2006, for instance, benefits jumped because of increased energy costs attributed to Hurricane Katrina in 2005. Have a question? E-mail answers@tampabay.com.
[Last modified December 4, 2007, 00:09:42]
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