Social Security COLA: How to Improve Accuracy and Stop Excess Spending Staff
Posted: Oct 30, 2013 10:07 AM
Time for some simple math: Which poll will more accurately determine the effect of a change on a whole group—one that surveys three of 10 people, or one that surveys nine of 10? While this may seem like an easy question, the Social Security Administration (SSA) currently receives a failing grade on this quiz for using an outdated index to determine its cost-of-living adjustment (COLA). With today’s announcement of the COLA for 2014, let’s take a closer look at how it was determined.