• COLA or No COLA Part I

    October 2016 Newsletter The Social Security Administration (SSA) announced a .3% cost of living adjustment (COLA) for 2017 Social Security Retirement Benefits. Popular media is widely broadcasting this news while bemoaning the paltry increase. The headlines are missing the real story. According to the SSA, the current average annual Social Security Retirement Benefit is approximately $15,660.  A .3% increase equates to about $47 per year. Within the next month, the Centers for Medicare & Medicaid Services (CMMS) will announce the 2017 cost increase for Medicare Part B Premiums. Since most retirees have these Part B premiums deducted from their Social Security Benefit, a Part B cost increase of just 4%, would equate to $50 per year for most Part B enrollees, completely…