Dumb social security question

modhatter

Full time employment: Posting here.
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Aug 8, 2005
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Do your social security benifits increase each year. Are they tied to anything? If so - what? Or do they stay at the same amount each year?
 
Just found the answer to my question. It is tied to the federals COLA (Cost of Living Increase) This year they state it is 2.7%.

SSI Monthly Payment Amounts, 1975-2005 Year Automatic
increase Eligible
individual Eligible
couple
1975 8.0% $157.70 $236.60
1976 6.4% 167.80 251.80
1977 5.9% 177.80 266.70
1978 6.5% 189.40 284.10
1979 9.9% 208.20 312.30
1980 14.3% 238.00 357.00
1981 11.2% 264.70 397.00
1982 7.4% 284.30 426.40
1983 a 7.0% 304.30 456.40
1984 3.5% 314.00 472.00
1985 3.5% 325.00 488.00
1986 3.1% 336.00 504.00
1987 1.3% 340.00 510.00
1988 4.2% 354.00 532.00
1989 4.0% 368.00 553.00
1990 4.7% 386.00 579.00
1991 5.4% 407.00 610.00
1992 3.7% 422.00 633.00
1993 3.0% 434.00 652.00
1994 2.6% 446.00 669.00
Year Automatic
increase Eligible
individual Eligible
couple
1995 2.8% $458.00 $687.00
1996 2.6% 470.00 705.00
1997 2.9% 484.00 726.00
1998 2.1% 494.00 741.00
1999 1.3% 500.00 751.00
2000 b 2.5% 513.00 769.00
2001 3.5% 531.00 796.00
2002 2.6% 545.00 817.00
2003 1.4% 552.00 829.00
2004 2.1% 564.00 846.00
2005 2.7% 579.00 869.00

a The increase effective for July 1983 was a legislated increase.
bOriginally determined as 2.4 percent based on CPIs published by the Bureau of Labor Statistics. Pursuant to Public Law 106-554, however, the COLA is effectively now 2.5 percent.
 
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