Join Early Retirement Today
Reply
 
Thread Tools Display Modes
When are COLA increases reflected in the SSA website?
Old 02-06-2019, 06:29 PM   #1
gone traveling
 
Join Date: Mar 2015
Posts: 3,508
When are COLA increases reflected in the SSA website?

When should I expect to see the effects of the most recent COLA increases reflected in my estimated benefits at ssa.gov?
joeea is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-06-2019, 07:04 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 3,679
I check mine every month because I haven't started claiming benefits yet.

Mine showed a significant jump on 12/1/18 and another smaller increase on 1/1/19. I don't know why it was split like that. I saw similar increases last year when I checked on 12/1/17 and 1/1/18.
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 02-06-2019, 09:53 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 7,866
Quote:
Originally Posted by Sue J View Post
I check mine every month because I haven't started claiming benefits yet.

Mine showed a significant jump on 12/1/18 and another smaller increase on 1/1/19. I don't know why it was split like that. I saw similar increases last year when I checked on 12/1/17 and 1/1/18.
I'd guess the larger one is when your earnings record was updated to reflect your better earnings history, and the smaller one is the annual COLA.
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
SecondCor521 is online now   Reply With Quote
Old 02-07-2019, 06:24 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,318
DW just started in January when she reach FRA. Her first payment will come this month. In retrospect it probably would have been better to start in November with a small reduction and pick up the 2.8% COLA.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
donheff is offline   Reply With Quote
Old 02-07-2019, 08:44 AM   #5
gone traveling
 
Join Date: Mar 2015
Posts: 3,508
Quote:
Originally Posted by donheff View Post
DW just started in January when she reach FRA. Her first payment will come this month. In retrospect it probably would have been better to start in November with a small reduction and pick up the 2.8% COLA.
I don't understand. Why do you think that would have been better?
- the reduction would apply to each and every check
- the COLA is only effective starting in January
- the COLA will be included in her first payment, and everyone after

You seem to be implying that she didn't "pick up the COLA" by waiting until her FRA?
joeea is offline   Reply With Quote
Old 02-07-2019, 09:29 AM   #6
Recycles dryer sheets
 
Join Date: Jun 2018
Location: Delmarva
Posts: 221
Quote:
Originally Posted by joeea View Post
When should I expect to see the effects of the most recent COLA increases reflected in my estimated benefits at ssa.gov?
As I recall, I saw the increase in my statement a month or two ago. I can't see the statement any more, now that my benefits have been approved, but the approved amount (I turn 66 this month, and get my first deposit next month) is exactly what my statement said last time I looked, around the first of the year, so the COLA was included then.


According to SSA, the annual COLA is determined in October and implemented in payments starting in January, so I think it's safe to assume it's reflected in statements somewhere in between.
__________________
"I can't complain, but sometimes I still do." - Joe Walsh, Life's Been Good
Crabby Mike is offline   Reply With Quote
Old 02-07-2019, 10:04 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,318
Quote:
Originally Posted by joeea View Post
I don't understand. Why do you think that would have been better?
- the reduction would apply to each and every check
- the COLA is only effective starting in January
- the COLA will be included in her first payment, and everyone after

You seem to be implying that she didn't "pick up the COLA" by waiting until her FRA?
i May have it wrong but it looks to me like her calculation looks the same as it would have been without the 2.8% bump. If so, the small reduction for 2 months early would have been better.
donheff is offline   Reply With Quote
Old 02-07-2019, 10:18 AM   #8
gone traveling
 
Join Date: Mar 2015
Posts: 3,508
Quote:
Originally Posted by donheff View Post
i May have it wrong but it looks to me like her calculation looks the same as it would have been without the 2.8% bump. If so, the small reduction for 2 months early would have been better.
Nobody ever loses a COLA, so applying 2 months earlier would clearly have resulted in a smaller check.
joeea is offline   Reply With Quote
Old 02-07-2019, 11:23 AM   #9
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 3,679
Quote:
Originally Posted by SecondCor521 View Post
I'd guess the larger one is when your earnings record was updated to reflect your better earnings history, and the smaller one is the annual COLA.

I don't think so. The previous years earnings are updated in early February. At least that's when it showed up in my statements in Feb 2017 and Feb 2018. I just checked my current statement and my 2018 earnings are not yet recorded.
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 02-09-2019, 09:00 AM   #10
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 3,679
I checked this morning and my 2018 earnings are now recorded.
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 02-09-2019, 09:46 AM   #11
Recycles dryer sheets
 
Join Date: Sep 2018
Posts: 270
I checked this morning and only 1 of my 2 sources of SS earnings are listed. Guess I'll wait another week and check it
Octogirl is offline   Reply With Quote
Old 02-10-2019, 10:30 AM   #12
Recycles dryer sheets
 
Join Date: Jun 2018
Location: Delmarva
Posts: 221
Interesting ... I always assumed that they weren't updated until well after your tax return for the previous year was processed, because that's how mine were the last few years I worked. I guess that was because I was self-employed, and SSA would have had no idea what I'd made until then, as opposed to payroll deductions.
__________________
"I can't complain, but sometimes I still do." - Joe Walsh, Life's Been Good
Crabby Mike is offline   Reply With Quote
Old 02-10-2019, 12:50 PM   #13
Moderator
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 10,656
As an aside, I use this page to get the numbers I use in my spreadsheets:


http://www.usinflationcalculator.com...-1913-to-2008/


Quote:
The following CPI data was last updated by the government agency on January 11, 2019 and covers up to December 2018. The next inflation update for January has a scheduled release date of February 13, 2019.
sengsational is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
SSA COLA Estimates for 2018! Travelfreek Life after FIRE 40 10-19-2017 02:04 PM
Inputting Pension that increases but is not a full COLA volfan FIRECalc support 2 05-16-2014 02:13 AM
COLA Watch...No COLA in 2011? mickeyd FIRE and Money 6 09-23-2010 07:48 AM
Formula to convert partially-COLA'd pension to equivalent COLA'd amount? kyounge1956 FIRE and Money 17 11-23-2009 09:32 AM
Wage Increases vs. CPI Increases TromboneAl FIRE and Money 19 05-06-2005 01:05 PM

» Quick Links

 
All times are GMT -6. The time now is 07:22 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.