Increased payments to SSI recipients will begin on December 29. For the elderly, it guarantees that their foundation of retirement income will remain strong for as long as they live. This year's increase in the CPI-W was 3.5 percent. This figure reflects the revision to the CPI released by the Bureau of Labor Statistics on September 28. Automatic COLAs became effective in 1975.
Wages continue to grow faster than inflation.
This is good news for American workers. About 10.9 million workers are affected by the higher wage base in 2001. If you received this newsletter from a friend, you may also subscribe. Each month you will receive a free newsletter packed with important news from Social Security. You can also sign up for timely updates on disability, retirement, survivors, Supplemental Security Income, Medicare, laws and regulations, press office news releases, wage reporting, and data studies and research.