Cost Of Living Adjustments

Discussion in 'Money & Finances' started by Sheldon Scott, Oct 18, 2016.

  1. Denise Evans

    Denise Evans Supreme Member
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    Oh, I'm sorry @Ken Anderson it's my SSI that will be less because California has a State Supplemental Payment and Oregon doesn't. Thing is, it will all basically even out because Oregon is less expensive in other things like groceries, gas etc. ;) My SS will be the same as everyone's, I mean the raise part I think anyway.
     
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  2. Denise Evans

    Denise Evans Supreme Member
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  3. John Brunner

    John Brunner Senior Staff
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    No, it does not decrease. It's based on your earnings/FICA Payment history. However, the tax treatment may change.

    From AARP:
    No matter where in the United States you live, your Social Security retirement, disability, family or survivor benefits do not change. Along with the 50 states, that includes the District of Columbia, Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa and the Northern Mariana Islands. But not all states treat benefits the same way. Twelve states levy a tax on Social Security benefits: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Vermont, Utah and West Virginia.

    Other sites say: Kansas exempts all Social Security income for seniors with an adjusted gross income (AGI) of $75,000 or less.

    So it seems that they they tax SS for folks with an AGI over $75,000.
     
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  4. Denise Evans

    Denise Evans Supreme Member
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    They tax money that was already taxed, is that what levy means?? That's outrageous!! The more I learn the more sick I feel about this country (who's running it anyway).
     
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  5. Hedi Mitchell

    Hedi Mitchell Veteran Member
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    Thank you !
     
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  6. Hedi Mitchell

    Hedi Mitchell Veteran Member
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    Got it..tnx
     
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  7. Denise Evans

    Denise Evans Supreme Member
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    I think all States have SSI, I mean, I'm not disabled but when I turned 65, SS gave me the SSI, and here in CA it's called SSI/SSP. So what I'll get in Oregon will be just the flat SS/SSI, that shouldn't change except for whatever % of raise I get.

    Does anyone know how to calculate that? I mean won't everyone's raise be the same percentage? If I have the % I can figure mine. I don't understand the above comments about the % being different? The SSP State Supplemental Payment is used in other States but not all States. Oregon is one where they don't have it.
     
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  8. Don Alaska

    Don Alaska Veteran Member
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    think your questions are answered below. @John Brunner said his net would be 9.7%. I haven't looked, as I can't change it. I will be grateful for any help I can get to counteract the damage done by this administration.
     
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  9. John Brunner

    John Brunner Senior Staff
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    This article explains why not everyone's increase will be exactly 8.7%.

    In a nutshell: "The reason is that the COLA is applied to your primary insurance amount (PIA) rather than your current benefit — and the two are not always the same. According to the SSA, the PIA is the benefit you would get if you elect to begin receiving retirement benefits at your normal or full retirement age. At this age, the benefit is neither reduced for early retirement nor increased for delayed retirement."
     
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  10. Denise Evans

    Denise Evans Supreme Member
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    I think I could handle a job again because I have become healthier in the last 2 years. I could handle a manual labor type, and really want to try once settled up in Oregon (about early Christmas week I should be moved in. I find a lot of job openings because I agree that many don't want to work, I mean working age folks so I might get lucky. I see gals my age working all over this town, it's just the courage to try. I only started drawing my SS because I couldn't not get a job anywhere I went at age 59.

    Really got near homeless-ness and had to live with some family and that you can imagine did not work out. So when I could draw my SS you can bet I did. Maybe I'm just dreaming or hoping but I have way too much time on my hands, and yes, not much of a retirement either.
     
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  11. Denise Evans

    Denise Evans Supreme Member
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    Well shoot, thought I had it all figured out. I subtracted the California supplement and then used the 8.7 to calculate new amount (ballpark figure). I think I mentioned moving into Oregon and I don't get my new figures until I think it's mid December, arggg :confused: Oregon is still cheaper to live in than CA so I should be just fine.
     
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  12. Denise Evans

    Denise Evans Supreme Member
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    I just had a thought, and not a good one, but if things change for the better in the next 2 to 4 year let's say, would that raise be taken away? Probably not I'm thinking. Not that much of America cares about us oldsters. I guess we are lucky, atleast in most States, we don't have icebergs :D:rolleyes: Memories of Soylent Green just keep coming back :cool:
     
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  13. Don Alaska

    Don Alaska Veteran Member
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    The raise shouldn't be taken away, but if they "accidentally" pay you too much, that can be removed from your account without your knowledge. They may need to issue you a notice after the fact now, but there was a scandal a number of years ago where the SSA overpaid a large number of seniors' Social Security and the SSA took the entire year's overpayments out of the accounts at one time. It was when most things were done by check, and only the direct-deposit people were affected.
     
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  14. Denise Evans

    Denise Evans Supreme Member
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    Yikes, and I do love my direct deposit. Isn't there a way that I can check on my end but actually, I think I'd know if I were getting too much and heck if I want something like that to happen to me, ever!
     
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  15. Don Alaska

    Don Alaska Veteran Member
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    Like I said, there was such an uproar that they may have to send you a notice when they do it, but pay attention to those notices should you get one. A lot of people pay their bills by credit card now, but when this happened, checks bounced everywhere.
     
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