Accounting, Payroll & Pension Issues/cost of living raise

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Expert: - 5/19/2008


Question
could you please tell me what the cost of living raise for 07/08 is ?   (approx.}

Answer
The last cost of living increase was listed in January by the Social Security Department at 3.5%.

There will not be another official one until October which will be for January of 2009.

The Department of Labor  consumer price index bureau release the Consumer price indexes every month.  The May one is released in June and has not been posted on the website yet.

Here is the Department of Labor Consumer Price Index website which lists the CPI. The CPI is used to figure the Cost of Living, but is not the Cost of Living. You can read how the Cost of Living is calculated using the CPI on the website.

http://www.bls.gov/cpi/home.htm

Shirley

Accounting, Payroll & Pension Issues

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Shirley McAllister, CPP, PHR

Expertise

I can answer payroll questions, payroll tax questions, 401K questions. No stock option questions please and I have some knowledge of other pensions but am most familiar with the 401K pension. I can answer U.S.and Canada payroll questions proficiently and have a good general knowledge of UK and South Africa and some knowledge of Australia and New Zealand Payroll procedures. Please do not ask me homework questions I do not have time to answer them.

Experience

25 years with an international company in the Human Resources, Payroll and Payroll Tax areas.

Organizations
SHRM, APA, I.O.M.A.

Publications
I.O.M.A. and BNA

Education/Credentials
P.H.R., C.P.P., Canadian Payroll Administrator, Successfully passed APA class on UK Payroll Administration. Boise State University Human Resource Certification

Awards and Honors
APA Hotline Citation of Merit for last 8 years.

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