“There’s enough anxiety around right now,” says Max Richtman, President and CEO of the National Committee to Preserve Social Security and Medicare. “ We don’t need to add to that by delaying information.”
Richtman is talking about the potential consequences of the U.S. Department of Labor’s announcement that it won’t be releasing this year’s annual report on inflation statistics for the months of July, August, and September as scheduled for October 16th.
Because of the recent partial government shutdown, the Department of Labor hasn’t had the internal resources to release the report on time. As of this writing, the report’s release date hasn’t been rescheduled.
Why It’s a Problem for Social Security Compensation Recipients
Social Security uses the inflation figures from the last three months of the fiscal year to calculate the legally required annual Cost of Living Allowance increase given to recipients of Social Security compensation, including disability benefits in Omaha.
Last year, SSA announced 2013’s automatic 1.7% increase on the same day the Department of Labor issued the final quarter reports for 2012. Currently, the administration hasn’t indicated that the problem will mean there isn’t a 2014 COLA increase, or that the increase will be delayed.
Are you feeling overwhelmed by the Social Security system? If you’re ready to take better control of your claim, get a free evaluation from the knowledgeable Omaha disability lawyers at Cuddigan Law Group. Call 402-933-5405 to learn more. Also, check out our free report, Give Yourself the Best Chance of Winning Your Social Security Disability Case.