The Social Security Administration (SSA) provides benefits to disabled individuals through the Supplemental Security Income (SSI) program. SSI benefits are paid in monthly installments, and the amount of the benefit is based on the individual’s income and resources. The SSI program is funded by general tax revenues, and the benefit amounts are adjusted each year to keep pace with inflation.
The cost-of-living adjustment (COLA) for SSI benefits is determined by the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the preceding year to the third quarter of the current year. The COLA is applied to SSI benefits in January of each year.
