Bonanza! The 1.7% Social Security COLA for 2015

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Bonanza! The 1.7% Social Security COLA for 2015

Seniors on Social Security are no doubt celebrating after learning that, come January 2015, their payouts will go up a whopping 1.7%. By federal law, Cost-of-Living-Adjustments (COLA) link to the inflation rate of the Wages Consumer Price Index (CPI-W). In 1975, when Social Security disbursed the first COLA, recipients got an 8% raise. But that was then and this is now.

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