The question all Social Security recipients want to know is – Will there be a $250 stimulus check in 2011?
At this point in time, the government has not announced anything. However in 2009 – SS recipients were given a $250 check. President Obama proposed another check for 2010 which didn’t happen. Given that the cost of living increase for SS is zero in 2011, it is not impossible that this idea will get floated again.
Updated – find out about a $250 stimulus check in 2012 for Social Security recipients.
2011 Social Security cost-of-living increase
The cost of living increase will be zero. The government has determined that inflation is low enough that no increase is necessary.
Should I count on a stimulus check
No – nothing has been announced, so it is not wise to count on a check being sent.
History of stimulus checks for Social Security recipients
In 2009, the government decided to pay out a one-time $250 stimulus check to all Social Security recipients. Needless to say, this money was enthusiastically received. It was part of the general stimulus package that was announced in early 2009. The regular Social Security payments went up 5.8% in 2009, so getting a $250 check was a nice bonus.
In 2010, the Social Security cost-of-living increase was 0% which was mandated by law. The thinking was that since inflation was so low – there wasn’t any need for a Social Security COLA (increase). President Obama proposed another $250 stimulus check for SS recipients at the end of 2009 to make up for seniors not getting a Social Security raise. This proposed check was to have been paid out in the first quarter of 2009.
The check never got paid since the Senate voted down the 2010 Social Security stimulus check.
Social Security information
Social Security gives about $1,150 per month to the average retiree. 40 percent of income for elderly people is provided by Social Security. 20% of older married couples and 40% of older single people rely on it for at least 90 percent of their income.
Please look at the 2012 Social Security COLA increase.
Social Security payments will be going up in 2012 – To determine your increase, please check out the article: How do I calculate 3.6% Social Security raise for 2012?