Wed. 3:43pm: Shutdown delays notice of Social Security COLA
WASHINGTON (AP) – 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 today that it will not issue the inflation report because of the shutdown. No new release date was set.
By law, the inflation number is used to help calculate next year’s automatic increase in benefits, or COLA. No inflation report; no COLA announcement.
The COLA, once it is announced, is scheduled to take effect for January payments.