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With Thursday's announced August CPI, the 2012 COLA is currently at 3.48%. I computed this from raw data on the BLS.gov site. I explained how to do the math earlier in this thread. The September numbers come out October 19th. At that time the 2012 COLA will be determined. I would expect it to end up somewhere between 3.40%-3.60%, depending on the September number to be averaged in.
Check your math or data, the correct number is 3.63% according to the Nat. Association of Retired Federal Employees. Google NARFE COLA.
Last edited by Pilgrim21784; 09-17-2011 at 05:48 AM..
Its Obama's post master who wants to cut days to fund the shortfall in pernsion payment coming next summer. perhaps you want the pension nt to be funded or post office to go under? Its Obama remmeebr who cut 500 billion from medicare to fund other subsidised healthcare .Its alos those who will reform SS to save it for future generations ;after all its not just those retored who it owes payments to altho mnay act likeit.You'd be bettert offf listenig to the trustees when they reported that listening to politicans as to what is likely goig to happen if not reformed.
It doesn't matter who's Postmaster it is, facts are facts. This started in 2006 when congress screwed it up. No business could survive these actuarial demands. They are bleeding a profitable system dry in orer to Profitize it by selling it to Halliburton
It the public system that is bleedig it dry and has been to not adjust to demand until its a crisis as alweays with governant. it should have been downsized long ago which is why congress did not fully make it indepedent that would have accomplished this;because they would habve looed to the best interest of the postal system instead of political fat keeping it has is.It has not gained the name snail mail for nothing while once highly regarded.
Check your math or data, the correct number is 3.63% according to the Nat. Association of Retired Federal Employees. Google NARFE COLA.
Reading the article, they're taking the August number as a stand alone, and computing the difference with the 2008 average. To do it correctly, you have to take the July, August, and as yet unknown, September figures. I figured it using the July and August numbers, which is as close as you're going to get at this point.
All in all, as far as the average SS recipient is concerned, the difference between 3.48% and 3.63%, amounts to less than 5 bucks a month. It's really not worth discussion.
All in all, as far as the average SS recipient is concerned, the difference between 3.48% and 3.63%, amounts to less than 5 bucks a month. It's really not worth discussion.
I'll take the 3.63% then and you can have the 3.48%.
Bottom line is that the only official numbers come from .gov sites. No hard COLA is announced until the middle of October. All these .org sites of various military and civil service retiree associations, have young bottom feeder journalists writing for them, who have little ability to interpolate statistics. Anyone who thinks the presidents of these associations are writing these news releases, and the information is absolutely correct, is a misplacement of trust. If you don't have the ability to do the math on the BLS.gov site, you best wait until October when the SSA releases the official announcement.
I'm trying to help SS recipients who don't have access to other information. Everything is an estimate because the September number is an unknown at this point. That estimate can be determined various ways. That's why it's an estimate.
But everybody's got an "I know better than you" attitude on this forum, and will argue over minutia that doesn't amount to a hill of beans. It's worse than a bunch of grade schoolers.
BLS2753... "I know better than you" attitude on this forum, and will argue over minutia that doesn't amount to a hill of beans. It's worse than a bunch of grade schoolers.
My apologies if any offense was taken, none certainly was intended and no argument was implied. I'm a former number cruncher myself and am pathologically addicted to accurate data.
NARFE's COLA reporting has been perfectly accurate for as long as I'm aware of (decades) and is an accepted source for the CPI-W running update by every professional organization I'm familiar with which reports on the subject, including millions of impacted Federal retirees and SS beneficiaries. That was my only point. One does not need to do the calculations, they are available the day after release of the monthly data by the BLS from NARFE.
Again, please accept my apology if one is needed.
Pilgrim
The declining housing market values are now included in the cost of living calculation. The problem is that we don't buy houses every week but we do by bread and milk and those prices keep rising.
The tea party republicans have declared war on SS and Medicare. They are striving to end these entitlements and they do not care if they take the entire country down to do it.
There is a boat load of retirees who worked for one company for 20,30, or 40 years or more and were promised a decent pension only to have it terminated shortly after they began collecting. Many promised lifetime medical insurance and life insurance watch as these promises went up in smoke. Some of it was a bad economy but it was mostly the US courts allowing big business to stop benefits to retirees while still making billions in profits from moving overseas. (Ford is one of those companies). All this leaves retirees totally depended on SS and Medicare by no fault of their own.
No matter how the bean counters juggle the books everyone on SS knows first hand the prices are soaring for basic necessities. For many it has become a choice between food or meds, doing without ac in a blistering hot summer or heat in the winter, giving up a much loved pet, etc. Being on SS sure isn't the life of Riley that some would have us believe.
^^Indeed. I'm one of those who lost half their promised pension. Also, as an example of corporate indifference, just got a notice from my homeowner's insurance co. they are raising insured valuation on my house 50% at the end of the year. If they have their way, house will be insured for almost twice what I could sell it for. The increase in homeowner's premium will wipe out any SS COLA I get. Which means increases in groceries, gasoline, utilities, medical copays, etc., are not covered. If insurance company does this to one million homeowners, it rakes in another $500 million a year or more. What a racket. Guess they gotta cover their hurricane/flood losses somehow.
Needless to say, I am shopping around for another carrier.
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