Not so great news for the 65 million retirees and others that receive Social Security benefits.  For the first time in 5 years, there will be no annual raise in Social Security benefits.  There’s no cost of living adjustment or COLA going into 2016 because falling gas prices have kept inflation low.  According to the Social Security Administration’s calculations, inflation is down 0.6% for the past 12-month period that ended in September.  This decline is largely driven by the 30% drop in gas prices.

Automatic benefits increases, also known as cost-of-living adjustments or COLAs, have been in effect since 1975.  In the current process. the COLA is computed at the close of September and goes into effect with January’s benefit checks. Here’s complete list of COLAs received 1975-12016:

• January 2016 — 0.0%
• January 2015 — 1.7%
• January 2014 — 1.5%
• January 2013 — 1.7%
• January 2012 — 3.6%
• January 2011 — 0.0%
• January 2010 — 0.0%
• January 2009 — 5.8%
• January 2008 — 2.3%
• January 2007 — 3.3%
• January 2006 — 4.1%
• January 2005 — 2.7%
• January 2004 — 2.1%
• January 2003 — 1.4%
• January 2002 — 2.6%
• January 2001 — 3.5%
• January 2000 — 2.5%
• January 1999 — 1.3%
• January 1998 — 2.1%
• January 1997 — 2.9%
• January 1996 — 2.6%
• January 1995 — 2.8%
• January 1994 — 2.6%
• January 1993 — 3.0%
• January 1992 — 3.7%
• January 1991 — 5.4%
• January 1990 — 4.7%
• January 1989 — 4.0%
• January 1988 — 4.2%
• January 1987 — 1.3%
• January 1986 — 3.1%
• January 1985 — 3.5%
• January 1984 — 3.5%
• July 1982 — 7.4%
• July 1981 — 11.2%
• July 1980 — 14.3%
• July 1979 — 9.9%
• July 1978 — 6.5%
• July 1977 — 5.9%
• July 1976 — 6.4%
• July 1975 — 8.0%