Social Security: The Cost-of-Living Adjustment in January 2005
Description
This report discusses how the cost-of-living adjustment (COLA) for Social Security benefits are determined. The 2.7% COLA payable in January 2005 was triggered by the rise in the CPI-W (Consumer Price Index for Urban Wage Earners and Clerical Workers) from the third quarter of 2003 to the third quarter of 2004. This COLA triggers identical percentage increases in Supplemental Security Income (SSI), veterans' pensions, and railroad retirement benefits, and causes other changes in the Social Security program.
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Description
This report discusses how the cost-of-living adjustment (COLA) for Social Security benefits are determined. The 2.7% COLA payable in January 2005 was triggered by the rise in the CPI-W (Consumer Price Index for Urban Wage Earners and Clerical Workers) from the third quarter of 2003 to the third quarter of 2004. This COLA triggers identical percentage increases in Supplemental Security Income (SSI), veterans' pensions, and railroad retirement benefits, and causes other changes in the Social Security program.
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Congressional Research Service Reports
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Sidor, Gary.Social Security: The Cost-of-Living Adjustment in January 2005,
report,
October 19, 2004;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metadc795651/:
accessed March 19, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.