Scott Gottlieb, CPA
Assistant editor: Susan A. Maffetone, CPA
Security Administration to Issue One-Time Payments to Approximately
50 Million Beneficiaries
Social Security Administration (SSA)
announced that it will issue one-time payments to approximately
50 million Social Security and Supplemental Security Income
retroactive payments are scheduled for delivery on July 16 to
Social Security and SSI beneficiaries. For the majority, these
payments will total up to $19, or $1 per month for January 2000
through July 2001. Beneficiaries do not need to contact SSA.
a result of the CPI error, the December 1999 cost-of-living
adjustment -- paid in January 2000 -- was one-tenth (1/10) of
one percent below what it would have been had the error not
occurred. As a result, the COLA applied to Social Security and
SSI payments was 2.4 percent, rather 2.5 percent.
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