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Social Security update for 2016
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It has been my custom for most of the last 18 years to write a year-end column that summarizes the Social Security changes and updates scheduled to take place the following year. Usually, that means I give the planned Cost-of-Living Adjustment (COLA) amounts, along with other revisions that are based on increases to the government’s inflation measuring stick called the “consumer price index.” But for the third year out of the last 10, the CPI hasn’t budged an inch.That means there will be no COLA increases for Social Security beneficiaries in 2016.