No 2016 Social Security Cost of Living Increase

No 2016 Social Security COLA increase
Law Does Not Provide for a Social Security Cost-of-Living
Adjustment for 2016

According to the Social Security Administration (SSA) with consumer prices down over the past year, monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 65 million Americans will not automatically increase in 2016. In other words, there will be no increase to monthly Social Security retirement benefits for 2016.

The SSA goes on to state that the Social Security Act provides for an automatic increase in Social Security and SSI benefits if there is an increase in inflation as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The period of consideration includes the third quarter of the last year a cost-of-living adjustment (COLA) was made to the third quarter of the current year. As determined by the Bureau of Labor Statistics, there was no increase in the CPI-W from the third quarter of 2014 to the third quarter of 2015. Therefore, under existing law, there can be no COLA in 2016. (For details see https://www.ssa.gov/oact/STATS/cpiw.html.)

Other adjustments that would normally take effect based on changes in the national average wage index also will not take effect in January 2016. Since there is no COLA, the statute also prohibits a change in the maximum amount of earnings subject to the Social Security tax, as well as the retirement earnings test exempt amounts. These amounts will remain unchanged in 2016. For more information see the Social Security 2016 Fact Sheet located at https://www.ssa.gov/news/press/factsheets/colafacts2016.pdf.

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Getting Married Soon? Give Social Security Your New Name

Change your name after the wedding
The Social Security Administration (www.ssa.gov) has this reminder for all newlyweds.

The Social Security Administration (SSA) notes that weddings mark exciting changes for newlyweds. While the happy couple works out the details, Social Security wants them to remember one detail that’s extremely important — and that’s the “record” Social Security keeps of their life’s earnings.

A wedding usually means a name change is in order, and one task the happy couple should have on their to-do list is to contact Social Security and their employers. If you are legally changing your name, you need to apply for a Social Security card reflecting your new name. That way, Social Security can keep track of your earnings history as you go about living your wonderful new life. So, go to the Social Security Administration Web site at www.ssa.gov/ssnumber/ for details about the documentation you will need.

An Overview of the Process
If you are legally changing your name because of marriage, divorce, court order or any other reason, you need to tell Social Security so that you can get a corrected card. If you are working, also tell your employer. If you do not tell the SSA when your name changes, it may prevent your wages from being posted correctly to your Social Security record, which may lower the amount of your future Social Security benefits. Additionally, not correcting your name may cause delays when filing your taxes.

What documents SSA can and cannot accept
SSA cannot accept photocopies or notarized copies. SSA cannot accept a receipt showing you applied for the document. All documents must be current (not expired). SSA may use one document for two purposes. For example, SSA may use your U.S. passport as proof of both citizenship and identity.

What original documents do I need to show proof of U.S. citizenship?
The SSA can accept only certain documents as proof of U.S. citizenship. These include a U.S. birth certificate or a U.S. passport. You must present your birth certificate. If one exists, you must submit it. If a birth certificate does not exist, SSA may be able to accept your:
• Religious record made before the age of 5 showing your date of birth
• U.S. hospital record of your birth
• U.S. passport

Anyone age 12 or older requesting an original Social Security number must appear in person for an interview. SSA will ask for evidence to show you do not have a Social Security number. Here are examples of documents you can use to prove a Social Security number was never assigned:

If you lived outside the United States for an extended period, a current or previous passport, school and/or employment records, and any other record that would show long-term residence outside the United States could be used to show you do not have a Social Security number.

If you have lived in the United States and you are applying for an original Social Security number, SSA may ask you for information about the schools you attended or SSA may ask you to provide copies of tax records that would show the SSA that you were never assigned a Social Security number.

Providing proof of identity
The SSA can accept only certain documents as proof of identity. An acceptable document must be current (not expired) and show your name, identifying information (date of birth or age) and preferably a recent photograph. For example, as proof of identity Social Security must see your:
• U.S. driver’s license
• State-issued non-driver identification card
• U.S. passport

If you do not have one of these specific documents or you cannot get a replacement for one of them within 10 days, SSA will ask to see other documents, including:
• Employee identification card
• School identification card
• Health insurance card (not a Medicare card)
• U.S. military identification card

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