Our daily roundup of retirement news your clients may be thinking about.
Tips for clients worried about no COLA for 2016 Elderly clients worried about receiving no increase in cost-of-living adjustments in their Social Security benefits next year are advised to reduce their spending to keep financially afloat, according to this article on USA Today. They may also find ways to boost their income, recalculate COLA using CPI-E instead of CPI-W and raise their concern to their representative in Congress. Seniors need to realize that any COLA increase would just have gone to Medicare Part B premium increase for 30% of beneficiaries, while the countable earnings threshold will remain unchanged at $15,720 next year. --USA Today
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