October 10, 2013 in Nation/World

Social Security COLA notice delayed by shutdown

Associated Press
 

WASHINGTON – Nearly 58 million Social Security recipients are still getting monthly benefits during the partial government shutdown. But they will have to wait to find out the size of next year’s cost-of-living adjustment.

Social Security was scheduled to announce the annual raise Oct. 16. That’s the same day the Labor Department was scheduled to release inflation statistics for September.

The Labor Department, however, said Wednesday it will not issue the inflation report because of the shutdown. No new release date was set.

By law, the inflation numbers for July, August and September are used each year to calculate next year’s automatic increase in benefits, or COLA.

The COLA is scheduled to take effect for January payments.

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