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No COLA increase for Social Security in 2010

It’s official. The Social Security Administration has announced that there will be no increase in 2010 SS checks. The annual Cost of Living Adjustment (COLA) is based on inflation and last year the number was negative (deflation). Checks won’t go down, but they won’t go up either. It is still not clear what will happen if Medicare Part B costs go up. There is a rule that checks cannot go down, so some adjustment may have to be made. Keep your eyes and ears out for more news