1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code 94-803 EPWUpdated October 18, 2002Social Security: The Cost-of-LivingAdjustment in January 2003David Koitz and Geoffrey Kollmann Updated by Gary SidorDomestic Social Policy DivisionSum
2、maryTo compensate for the effects of inflation, Social Security recipients receive a cost-of-living adjustment (COLA) in January of each year. The Consumer Price Index forUrban Wage Earners and Clerical Workers (CPI-W), updated monthly by theDepartment of Labors Bureau of Labor Statistics (BLS), is
3、the measure used to computethe change. The Social Security COLA is based on the percentage change in the averageCPI-W for the third calendar quarter of the previous year to the third calendar quarterof the current year. The COLA becomes effective in December of the current year andis payable in Janu
4、ary of the following year (Social Security checks always reflect thebenefits due for the preceding month).The 1.4% COLA payable in January 2003 was triggered by the rise in the CPI-Wfrom the third quarter of 2001 to the third quarter of 2002. This COLA triggers identicalpercentage increases in Suppl
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