The Social Security Administration has announced that no cost-of-living adjustments will be made to Social Security benefits in 2011, according to Capt. Joe Reid Scott, Hopkins County Veterans Service Officer.
Scott said the decision was made because the consumer price index has not risen since 2008, the date when the last Social Security increase occurred.
Like recipients of Social Security and other federal benefits, veterans, their families and survivors will also not see a cost-of-living adjustment in 2011 to their compensation and pension benefits from the Department of Veterans Affairs.
The decision impacts the local economy due to the number of veterans and their beneficiaries in the area.
“Currently, in Hopkins County, Texas, there are nearly 3,000 veterans families receiving about $10 million annually,” Scott said.
Under federal law, the cost-of-living adjustments to VA’s compensation and pension rates are the same percentage as for Social Security benefits.
More information about VA benefits can be obtained online by visiting the VA’s website, www.va.gov, or by calling 1-800-827-1000.
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