Social Security payments may decrease in 2010

The Associated Press is reporting that there might not be any Cost of Living Adjustments for Social Security recipients for the next two years.

In an article entitled "Social Security Payments may shrink in 2010," Associated Press reporter Stephen Ohlemacher cites projections by trustees who oversee Social Security.  His article notes that COLA's have been automatic since 1975.

The report, if true, could impact those assisted housing properties who include COLA's as a matter of routine for Annual Recertifications effective in January, February and March.  EIV becomes mandatory on September 30th but past EIV notices have stated COLA information will not be available until the end of the year, by which point January-February-March AR's are already in process.

I am posting this for informational purposes only.  As someone who lived and worked in the Washington, DC area for a decade I can attest that a lot can happen on sensitive and highly political issues such as Social Security and the well-being of senior citizens.