Cola

[john999]

I see that our cola is about 2% for the year so far. This is preposterous considering the cost of homeowners insurance,gas, electric, food, clothing, housing and all the rest. In my neighborhood where I have access to VA care and doctors who can help me I could not afford to buy my own house if it was on the market today. I feel under seige. My private medical insurance and Part B and homeowners insurance continue to climb. For anyone trying to live just on VA and SSA the prospects are dim. I have really pulled in my horns when it comes to spending and I am thinking how to make my money last. This is not what I had in mind ten years ago when I was making good money and had a 401K and a pension. Now I feel like a beggar/

[jessejames]

I think your quoted website should check their math. Here's the formula for calculating CPI/W

(192.7 - 185.1) / 185.1 x 100 = 4.1 This represents last year's COLA

This year's so far is:

July and Aug 2005 avg=191.55

July and Aug 2006 avg=199.4

Now plug these into the formula. (199.4 - 191.55) /191.55 x 100 = 4.098%

I really don't know where they got their figures.

Here's the link to the actual bureau of labor statistics where the cola is calculated.

http://www.ssa.gov/OACT/STATS/cpiw.html

This is from the top of the page on the site you posted for SSA! "The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) is produced by the Bureau of Labor Statistics (BLS). The CPI-W is used to annually adjust benefits to Social Security beneficiaries." --- Click on BLS in the heading on the site you posted and you will see it takes you to the BLS site which I posted and there you will see SSA and VA uses the site I posted to get the COLA info. SSA does NOT calculate the COLA, ONLY the Government Agency BLS does and then SSA and VA use the calculations they come up with!! My link was to the schedule date of each mont's release on the BLS, but from there you can click BLS Home at the top and then click General Overview which will take you to the page that SSA quoted in your url ( http://www.ssa.gov/OACT/STATS/cpiw.html]http://www.ssa.gov/OACT/STATS/cpiw.html ) My information IS correct, I've followed this a long time!

This is how the COLA is calculated: Subtracting one index from another gives you a POINT difference (in the case you cite, 6.6 index points). However to calculate the percent change, you need to divide the index point difference by the earlier time period index, then multiply the result by 100: THIS IS AN EXAMPLE ONLY, IT DOES NOT REPRESENT THIS YEARS COLA!!!!!!!!!!!!

(((193.4-186.8)/186.8) * 100) =

((6.6/186.8) * 100) =

(0.0353) * 100 = 3.5 percent (we round to one decimal place.

At the end of the News Release text, you will see an example of percentage change calculations as well. Or see the answer to CPI FAQ #11, "How Do I Read or Interpret an Index" at http://www.bls.gov/cpi/cpifaq.htm#Question_

Edited September 26, 2006 by jessejames

[Peacenik]

This is from the top of the page on the site you posted for SSA! "The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) is produced by the Bureau of Labor Statistics (BLS). The CPI-W is used to annually adjust benefits to Social Security beneficiaries." --- Click on BLS in the heading on the site you posted and you will see it takes you to the BLS site which I posted and there you will see SSA and VA uses the site I posted to get the COLA info. SSA does NOT calculate the COLA, ONLY the Government Agency BLS does and then SSA and VA use the calculations they come up with!! My link was to the schedule date of each mont's release on the BLS, but from there you can click BLS Home at the top and then click General Overview which will take you to the page that SSA quoted in your url ( http://www.ssa.gov/OACT/STATS/cpiw.html]http://www.ssa.gov/OACT/STATS/cpiw.html ) My information IS correct, I've followed this a long time!

This is how the COLA is calculated: Subtracting one index from another gives you a POINT difference (in the case you cite, 6.6 index points). However to calculate the percent change, you need to divide the index point difference by the earlier time period index, then multiply the result by 100: THIS IS AN EXAMPLE ONLY, IT DOES NOT REPRESENT THIS YEARS COLA!!!!!!!!!!!!

(((193.4-186.8)/186.8) * 100) =

((6.6/186.8) * 100) =

(0.0353) * 100 = 3.5 percent (we round to one decimal place.

At the end of the News Release text, you will see an example of percentage change calculations as well. Or see the answer to CPI FAQ #11, "How Do I Read or Interpret an Index" at http://www.bls.gov/cpi/cpifaq.htm#Question_

Nowhere did I say that ssa calculates the cola. My link is to the tables used by BLS Just do the math and you will see I'm correct. I'm not gonna keep going around with you on this. I'm trying to provide Accurate info for Vets. The Cola so far for 2006 is 4.098% The number we have to beat by 8 points to remain at 4% is 195 for Sept. 2006. that's why I believe the final tally will be around 3.2%

Just look at the website I quoted and compare it to the Table on BLS website. THEY ARE THE SAME!!!!!!!!

Here's the table!!!!!! http://data.bls.gov/cgi-bin/surveymost

Click on Get detailed statistics, then go down to CPI for urban wage earners and clerical workers (current series) Then click on the BLUE box next to it. Then select the first box and scroll down and click retrieve data. THAT IS THE TABLE THEY USE. IT IS IDENTICAL TO THE ONE I PROVIDED A LINK TO IN MY EARLIER POST!!!! Now you can continue to give false info or you can see it for yourself!!

Edited September 26, 2006 by Peacenik

[jessejames]

Nowhere did I say that ssa calculates the cola. My link is to the tables used by BLS Just do the math and you will see I'm correct. I'm not gonna keep going around with you on this. I'm trying to provide Accurate info for Vets. The Cola so far for 2006 is 4.098% The number we have to beat by 8 points to remain at 4% is 195 for Sept. 2006. that's why I believe the final tally will be around 3.2%

Just look at the website I quoted and compare it to the Table on BLS website. THEY ARE THE SAME!!!!!!!!

Here's the table!!!!!! http://data.bls.gov/cgi-bin/surveymost

Click on Get detailed statistics, then go down to CPI for urban wage earners and clerical workers (current series) Then click on the BLUE box next to it. Then select the first box and scroll down and click retrieve data. THAT IS THE TABLE THEY USE. IT IS IDENTICAL TO THE ONE I PROVIDED A LINK TO IN MY EARLIER POST!!!! Now you can continue to give false info or you can see it for yourself!!

The National Asc of Federal Retirees http://www.narfe.org/departments/hq/guest/home.cfm has been correct before, the NALC http://www.nalc.org/depart/retire/index.html has always been correct before in keeping an update on the COLA month per month. I know personally they receive the same COLA as SS and VA, I worked for the Postal Service for 20 years, and both pages say 3.5% through August. You say 4.098%, the New York Post says 3.9% through August. http://www.nypost.com/business/a_robust_cp...ohn_crudele.htm Since the Federal Employees has a lower number, it may bear out checking to see why they are stating the lower number, ie. have they been ordered to do so?? Either way, I'm thinking we won't see over 3%, and we may be asked to forgo any COLA to help with the Iraq rebuilding....after it's completely blown up. Anyway, if you say you are right, then so be it, it's not worth anymore typing about! We'll know on Oct 18th!

[Peacenik]

Those offices can propose a COLA, but it means nothing until the President signs it into law..... and he's not going to approve the proposed amount because of the current federal deficiet. He will, as he has done in the last 6 years, reduce it somewhat, then sign it.

C'mon guys! Stop with the misinformation. The Cola is determined ONLY by the Bureau of labor Statistics. It cannot be reduced under law. Read the Law!

Legislation enacted in 1983 may limit the COLA if the combined assets of the Social Security trust funds are below 20 percent of annual expenditures. (This limitation only applies to Social Security; SSI would be unaffected.) Such limitation has not occurred in the past, nor does it affect the current COLA determination. The combined trust fund assets at the beginning of 2005 are estimated to be 319.1 percent of 2005 expenditures.

It IS what it IS!! He has not reduced the Cola in the last six years!! He cannot without changing federal law!

Enough already!

[jessejames]

Since when has the current President let a little thing such as the law of the land stand in his way??? Especially since HE has a Congress that will rubber stamp any thing HE wants!!!!! I personally try to never say never. Kinda like saying the VA ALWAYS goes by the laws and regulations??????? We'll get our peanut raise, ( and I do THANK God for it!! ) but the Rubber Stamp, None Accountability, Do Nothing Congress will get how much COLA??

[Philip Rogers]

Hey guys, would you rather be right or be happy? I can write my name in the snow in yellow too. jmo