Just yesterday, the Social Security Administration announced a 0.3% cost of living adjustment to Social Security and Supplemental Security Income benefits. As you’ll recall, last year there was no adjustment. The methodology for determining whether a change in benefits will occur is based on inflation as measured by the Consumer Price Index and the increase takes effect in January 2017. This information is important to you because the increase must be taken into account when calculating household income for those that receive Social Security benefits. 

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