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Glossary of Social Security
Disability Law Terms
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Legal
Glossaries Index
Child:
May include biological children or any other child who can
inherit your personal property under State law or who meets certain specific
requirements under the Social Security Act.
COLA:
Cost of Living Adjustment. Social Security benefits and
Supplemental Security Income payments are increased each year to keep up with
inflation.
Computation Years:
Computation years are the years with highest earnings
selected from the "base years."
CPI:
Consumer Price Index. An index prepared by the U. S. Department
of Labor that charts the rise in costs for selected goods and services. This
index is used to compute COLA increases.
Carve out:
Redirected payroll taxes that were going into the Social
Security system and are now going into private retirement accounts. The money is
“carved out” of the Social Security system and not available to pay benefits
for current retirees.
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