Uncle Sam gives retirees a raise. (Tax Cases).Social Security and Supplemental Security Income Supplemental Security Income A Social Security program established to help the blind, disabled, and poor. recipients saw a 1.4% increase in their 2003 benefit payments from a year earlier as a result of the annual cost-of-living adjustment cost-of-living adjustment n. Abbr. COLA An adjustment made in wages that corresponds with a change in the cost of living. (COLA cola or kola, tropical tree (genus Cola) of the family Sterculiaceae (sterculia family), native to Africa but now grown in other tropical regions. ). On average, retirees received an extra $13 a month. +$13 Average 2003 COLA Source: Social Security Administration, www.ssa.gov. |
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