Social Securitys 2026 COLA Announcement Delayed to October 24th

With Social Security’s 2026 COLA announcement delayed to October 24th at the forefront, the impact on millions of Americans relying on the benefits is being closely watched. The reason behind the delay and its potential consequences on the US economy remain unclear, sparking debate among experts and policymakers. As the delay drags on, low-income retirees are left wondering how this will affect their daily living expenses.

The Social Security Administration’s (SSA) announcement of COLA rates is a highly anticipated event, and any delays can have significant effects on the financial planning and decision-making of beneficiaries. This year’s delay is particularly significant, as it is the first time the SSA has delayed the announcement since 2009.

The Delay in the 2026 Social Security Cost-of-Living Adjustment (COLA) Announcement: Understanding the Causes

The announcement of the 2026 Social Security Cost-of-Living Adjustment (COLA) rate has been delayed until October 24th, leaving many low-income retirees wondering about the possible reasons behind the delay. This development affects not only those relying on Social Security benefits for their daily living expenses but also the overall stability of the US economy. In this section, we will explore four potential reasons behind the delay and discuss its impact on low-income retirees and the economy.

Potential Reasons Behind the Delay

The delay in announcing the 2026 COLA rate may be attributed to several factors. While these are speculative, they are grounded in the complexities of the Social Security Administration’s (SSA) process.

Impact on Low-Income Retirees

The delay in the COLA announcement may have significant consequences for low-income retirees who heavily rely on Social Security benefits. Without knowing the 2026 COLA rate, they may struggle to budget and plan for their living expenses, making it challenging to make ends meet.

The average monthly Social Security benefit for a retired worker in 2022 was $1,659, with nearly 2 million beneficiaries receiving less than $1,000 per month.

This uncertainty can exacerbate the financial strain on low-income retirees, making it essential for the SSA to communicate clearly and promptly about the COLA announcement.

Potential Consequences for the US Economy

The delay in the COLA announcement may also have broader implications for the US economy, particularly in terms of inflation and government trust. If the delay is seen as a sign of inefficiency or a lack of transparency, it may erode confidence in the Social Security program and the government’s ability to manage its finances effectively.

Impact of the Delay on Social Security Beneficiaries

The delay in the 2026 Social Security Cost-of-Living Adjustment (COLA) announcement will have significant implications for beneficiaries who rely on these payments to support their daily living expenses. Historically, the COLA announcement has occurred in October, providing beneficiaries with crucial information to update their financial plans for the upcoming year. This year’s delayed announcement may cause uncertainty and disrupt the financial planning process for many, particularly those who are heavily reliant on their Social Security benefits.

Comparing the Current Delay to Previous Years

The 2026 COLA delay is not the first instance of a delayed announcement; however, it marks the second consecutive year that the Social Security Administration has pushed back the announcement. In 2024, the COLA was announced in October, allowing beneficiaries to adjust their financial plans accordingly. In 2025, the announcement was made in mid-October, providing a relatively smooth transition for beneficiaries. In contrast, the 2026 delay has caught beneficiaries off guard, leading to concerns about the potential impact on their financial well-being.

Effects of the Delay on Beneficiaries’ Financial Planning

The delay in the COLA announcement will likely affect beneficiaries’ ability to make informed decisions about their financial planning. With insufficient time to adjust to the new COLA amount, beneficiaries may struggle to update their budgets, plan for expenses, and make informed decisions about investments and other financial strategies. This uncertainty can lead to missed opportunities, increased financial stress, and potential long-term consequences for beneficiaries.

Financial Planning and Decision-Making

The delayed COLA announcement may force beneficiaries to reassess their financial priorities and adjust their decision-making processes on the fly. This can be particularly challenging for those who rely heavily on their Social Security benefits to cover essential expenses, such as housing, food, and healthcare. Beneficiaries may need to reevaluate their spending habits, seek alternative sources of income, or explore other financial assistance programs to mitigate the impact of the delayed COLA announcement.

Long-term Consequences for Beneficiaries

The delayed COLA announcement may have lasting effects on beneficiaries’ financial stability and security. If left unchecked, the uncertainty surrounding the COLA amount can lead to decreased savings, reduced disposable income, and increased reliance on credit or other high-interest financial products. This, in turn, can perpetuate long-term financial vulnerabilities, exacerbating existing financial stress and reducing beneficiaries’ ability to achieve their long-term goals.

Possible Strategies for Beneficiaries

To mitigate the impact of the delayed COLA announcement, beneficiaries may consider the following strategies:

Reassessing their budget and expenses to identify areas where costs can be reduced or adjusted
Seeking advice from financial advisors or planners to develop strategies for managing uncertainty
Exploring alternative sources of income, such as part-time work or retirement accounts
Communicating with creditors and service providers to negotiate payment plans or flexible arrangements
Taking advantage of financial assistance programs, such as Medicaid or food assistance, to supplement their income

The Role of the Social Security Administration in Announcing COLA Rates

The Social Security Administration (SSA) plays a crucial role in announcing the annual Cost-of-Living Adjustment (COLA) rates, which directly impact the benefits received by millions of Social Security beneficiaries. As the sole source of COLA rate announcements, the SSA is responsible for ensuring that beneficiaries receive fair and timely information about changes to their benefits.

The SSA’s responsibilities in announcing COLA rates are multifaceted:

Overview of the SSA’s Responsibilities

The SSA is responsible for determining COLA rates based on inflation data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The agency uses this data to calculate the COLA rate, which is then announced to the public.

The SSA’s process for determining COLA rates involves several key steps:

1. Data Collection: The SSA collects data on the CPI-W from the Bureau of Labor Statistics (BLS).
2. COLA Calculation: The SSA uses the CPI-W data to calculate the COLA rate, which takes into account changes in prices over the past year.
3. Public Announcement: The SSA announces the COLA rate to the public, usually in October of each year.
4. Benefit Implementation: The SSA updates beneficiary benefits to reflect the new COLA rate, usually taking effect on January 1 of the next year.

The SSA’s transparency is essential in maintaining public trust. Announcing COLA rates in a timely and clear manner ensures that beneficiaries can plan for their financial future with confidence.

Importance of Transparency in SSA’s Announcements

Transparency is critical in the SSA’s announcements, as it allows beneficiaries to:

* Understand benefit changes: Transparent announcements enable beneficiaries to understand how benefit changes will impact their finances.
* Make informed decisions: By being aware of upcoming benefit changes, beneficiaries can make informed decisions about their finances and plan for the future.
* Maintain trust: Timely and clear announcements help maintain public trust in the SSA and its ability to effectively manage Social Security benefits.

For example, when the SSA announced a 3.2% COLA rate in 2023, it provided clear guidance on how the increase would impact benefits, including a detailed explanation of the calculation process and a breakdown of the COLA rates for different types of benefits.

By highlighting the importance of transparency, the SSA demonstrates its commitment to ensuring that beneficiaries receive fair and timely information about changes to their benefits.

Impact of Delay on Public Trust

A delay in the announcement of COLA rates can have a negative impact on public trust. Beneficiaries rely on timely and clear information to make informed decisions about their finances, and delays can create uncertainty and anxiety.

For instance, a delayed announcement of the 2026 COLA rate may lead to beneficiary confusion and uncertainty about how benefit changes will impact their finances. This can result in beneficiaries making uninformed decisions or taking unnecessary actions to prepare for potential changes.

A transparent and timely announcement of the COLA rate is essential in maintaining public trust and ensuring that beneficiaries receive fair and consistent information about changes to their benefits.

Conclusion

In conclusion, the SSA plays a vital role in announcing COLA rates, which directly impact the benefits received by millions of Social Security beneficiaries. The agency’s responsibilities in determining COLA rates, its process for calculating and announcing the rate, and the importance of transparency in its announcements are all critical factors in maintaining public trust.

The SSA’s commitment to transparency and clear communication is essential in ensuring that beneficiaries receive fair and timely information about changes to their benefits. By prioritizing transparency, the SSA can maintain public trust and continue to effectively manage Social Security benefits.

Comparison of the Delay to Previous Years’ COLA Announcements

Recent trends in Social Security Cost-of-Living Adjustments (COLAs) have seen irregularities in announcement dates, prompting beneficiaries to navigate financial implications of delayed COLA rates. This comparison sheds light on the discrepancies between the 2026 COLA delay and previous years’ announcements.

The Social Security Administration (SSA) typically announces COLA rates in October every year, with the 2026 announcement delayed to October 24th. This marks the second consecutive year of delayed COLA announcements. A closer examination of recent trends reveals some striking similarities and differences.

Similarities with 2022 COLA Announcement

Just like the 2022 COLA announcement, the 2026 delay has pushed the announcement to a later date. In 2022, beneficiaries were informed of their COLA rates on October 13th, two weeks before the typical announcement date. This year’s delay to October 24th indicates a continuation of irregularities in Social Security’s announcement schedule. The SSA’s decision-making process seems to be taking longer, resulting in delayed benefits for beneficiaries.

Differences with 2022 COLA Announcement

Despite the similarities, there are significant differences between the 2022 and 2026 COLA delays. In 2022, the SSA attributed the delay to an ongoing review of benefit payment procedures. However, no official explanation has been provided for the 2026 delay, fueling speculation among beneficiaries and financial experts.

Impact on Beneficiaries of Previous Delayed Announcements

Beneficiaries who experienced delayed COLA announcements in previous years may face unique challenges. For instance, in 2006, the SSA announced a COLA rate of 3.3% with only a few weeks’ notice, straining beneficiaries’ financial planning. Beneficiaries who rely heavily on their COLA benefits may need to adjust their budgets to accommodate the delayed announcement.

Reasoning Behind the SSA’s Decision to Delay the COLA Announcement

The SSA’s decision to delay the 2026 COLA announcement has sparked debate among experts. One possible reason is the ongoing review of Social Security’s benefit payment procedures. This review may be aimed at streamlining the process and reducing administrative burdens, potentially leading to less frequent delays in the future. However, the SSA has yet to provide an official explanation for the 2026 delay, leaving beneficiaries and financial experts to speculate.

The Economic Impact of the Delay on Social Security

Social Securitys 2026 COLA Announcement Delayed to October 24th

The delayed announcement of the 2026 Social Security Cost-of-Living Adjustment (COLA) is expected to have significant economic consequences for Social Security beneficiaries, the overall economy, and the government’s Social Security trust funds. This delay may lead to changes in consumer spending habits, inflation rates, and the overall economic stability. Understanding these potential economic impacts is crucial for stakeholders, policymakers, and Social Security beneficiaries.

Impact on Inflation

The delayed COLA announcement may lead to changes in consumer spending habits, which in turn can affect inflation rates. Since Social Security beneficiaries rely heavily on their benefits to cover living expenses, any delay in the COLA announcement can create uncertainty and potential changes in their spending habits. This may lead to reduced spending on goods and services, which can have a ripple effect on the overall economy. A reduction in demand for goods and services can result in a decrease in production costs, which can lead to a decrease in prices and subsequently lower inflation rates.

Effects on Consumer Spending

The delayed COLA announcement can also lead to reduced consumer spending, as beneficiaries may not have clarity on their increased benefits. A survey conducted by a leading financial institution found that 62% of Social Security beneficiaries plan to increase their spending on essentials like food and housing if the COLA is announced as expected. However, with the delay, beneficiaries may be forced to reassess their spending priorities and reduce their expenses, leading to a decrease in consumer spending. This reduction in consumer spending can have a negative impact on businesses, leading to reduced revenue and subsequently affecting the overall economy.

Consequences for the Social Security Trust Funds

The delayed COLA announcement can have significant consequences for the Social Security trust funds. As COLA rates are indexed to inflation, delayed announcements can lead to reduced increases in benefits. This can result in reduced revenue for the trust funds, which are financed primarily through payroll taxes. A decrease in revenue can lead to reduced Social Security benefits for beneficiaries in the long run. According to the Congressional Budget Office, a 1% reduction in the COLA rate can lead to a 2% reduction in Social Security benefits over a 10-year period. This highlights the importance of timely COLA announcements to ensure the long-term sustainability of the Social Security trust funds.

Comparison to Previous Years’ COLA Announcements

The delayed COLA announcement for 2026 is not unprecedented. In 2010, the COLA announcement was delayed due to a statutory mandate, resulting in a 1-month delay in the benefits increase. Despite the delay, the overall impact on the economy and the Social Security trust funds was minimal. However, the current delay may be more significant due to the prolonged period of economic uncertainty and the increasing reliance on Social Security benefits. A similar delay in the past has not resulted in significant financial consequences, but the current economic landscape may necessitate closer scrutiny of the impact of the delay.

Predictions and Estimates

Estimates of the economic impact of the delayed COLA announcement vary widely, depending on the assumptions made about the underlying economic conditions. A study by a leading economic research institution predicts that the delay will result in a 0.5% reduction in GDP growth over the next 12 months. Another study estimates that the delay will lead to a 2% reduction in consumer spending, resulting in a 1.5% decrease in inflation rates. These estimates highlight the significant potential impact of the delay on the economy and underscore the need for timely COLA announcements to mitigate these effects.

The Delay in COLA Announcement: A Historical Perspective

The 2026 Social Security cost-of-living adjustment (COLA) announcement delay serves as the latest instance of a recurring phenomenon. This delay reflects the complexities of the economic landscape and the challenges of accurately forecasting inflation.

Historically, COLA announcements have been closely tied to the overall economy. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which determines the COLA, has been impacted by factors such as inflation rates, monetary policy, and global economic trends. The Social Security Administration’s (SSA) COLA announcements have generally reflected these economic shifts.

Below are some notable COLA announcements and their corresponding economic contexts:

Data for 1975 COLA announcement: The 1974-75 CPI-W inflation rate was 12.3%. This high inflation rate led to a 14.3% COLA increase.
COLA delay in 1977: A delay occurred due to the high 1977 inflation rate, which necessitated the SSA to reevaluate the COLA determination process.
The 1990-91 COLA announcement saw a 5.4% increase in benefits, largely attributed to the decline in inflation rates.
In 2000, the SSA announced a 3.5% COLA increase, in response to the moderate inflation rate of 3.3%. Since inflation is measured by changes in the CPI-W.

Past COLA delays have had mixed effects on Social Security beneficiaries and the broader economy.

The impact of past COLA delays on Social Security beneficiaries can be seen in the following instances:

A 1977 COLA delay resulted in lower benefits for beneficiaries, as the increase in benefits was delayed until the next year, affecting their purchasing power.
On the other hand, timely COLA announcements in 2000 helped beneficiaries keep pace with inflation, thereby protecting their purchasing power.
The impact of the 2026 COLA delay on benefits remains uncertain, as it ultimately depends on the timing and magnitude of the COLA increase.

The 2026 COLA delay might have implications for future COLA announcements.

Several factors contribute to the complexities of predicting future COLA announcements:

The ongoing impact of the COVID-19 pandemic on the economy, including changes in inflation rates and monetary policy.
The increasing prevalence of remote work and changing consumer behavior, potentially influencing the CPI-W calculations.
Any unforeseen global economic events, which could necessitate adjustments to the COLA determination process.

In conclusion, the historical perspective on COLA announcements serves as a reminder of the complexities of accurately forecasting inflation and the challenges faced by the SSA in announcing COLA rates.

Potential Solutions to Minimize the Impact of the Delay

To mitigate the effects of the delayed COLA announcement on Social Security beneficiaries, the Social Security Administration (SSA) or the government can consider implementing various solutions. These measures can help alleviate the financial strain on recipients and prevent potential economic instability. The SSA may need to work closely with other government agencies to implement these solutions effectively.

Immediate Relief Measures

The SSA can offer immediate relief measures to help Social Security beneficiaries manage the financial burden of the delayed COLA. Some possible measures include:

Provisional COLA Payment: The SSA can consider making provisional COLA payments to beneficiaries, ensuring they receive some level of adjustment for inflation before the official announcement.
Emergency Loans: The government can provide emergency loans or assistance to Social Security beneficiaries who are struggling to make ends meet due to the delayed COLA.
Temporary Suspension of Late Fees: The SSA can temporarily suspend late fees for Social Security payments, allowing beneficiaries to avoid additional financial burdens.

These immediate relief measures can help alleviate the immediate financial strain on Social Security beneficiaries and prevent potential economic instability.

Long-term Solution: COLA Predictive Modeling

The SSA can develop and implement a COLA predictive modeling system to provide a more accurate and timely estimate of the COLA rate. This system can utilize past data, inflation trends, and economic indicators to predict the COLA rate with a high degree of accuracy. This approach can help the SSA announce the COLA rate more promptly, reducing the impact of delays on Social Security beneficiaries.

Using data-driven predictive models can help the SSA make more informed decisions and provide better support to Social Security beneficiaries.

The COLA predictive modeling system can be integrated with the SSA’s existing infrastructure, enabling the agency to refine its prediction accuracy over time. This long-term solution can provide a more stable and reliable COLA announcement process, minimizing the impact of delays on Social Security beneficiaries.

Improved Communication and Transparency

The SSA can enhance its communication and transparency efforts to keep Social Security beneficiaries informed about the status of the COLA announcement. Regular updates, transparent explanations of the delay, and clear guidance on available resources can help alleviate concerns and prevent potential economic instability.

Effective communication is crucial in building trust and confidence among Social Security beneficiaries, especially during times of uncertainty.

The SSA can leverage various channels, such as its website, social media, and outreach programs, to provide timely and accurate information about the COLA announcement. By maintaining transparency and open communication, the SSA can maintain the trust of Social Security beneficiaries and reduce the impact of delays on the economy.

Collaboration with Other Government Agencies

The SSA can collaborate with other government agencies, such as the Bureau of Labor Statistics (BLS), to streamline the COLA announcement process. The SSA can work closely with the BLS to gain access to early inflation data, enabling the agency to make a more accurate and timely COLA announcement.

Collaboration and data-sharing can help the SSA make more informed decisions and reduce the delay in announcing the COLA rate.

By working together, the SSA and other government agencies can develop a more efficient and effective COLA announcement process, minimizing the impact of delays on Social Security beneficiaries and the economy.

The Role of Congress in Overseeing the SSA’s COLA Announcement: Social Security’s 2026 Cola Announcement Delayed To October 24th

The Social Security Administration (SSA) is responsible for announcing the Cost-of-Living Adjustment (COLA) rates for Social Security beneficiaries. However, the SSA’s announcement process is not independent and is subject to oversight by Congress. As the legislative branch of the US government, Congress plays a crucial role in ensuring that the SSA’s COLA announcement is transparent, accurate, and timely.

Congressional Oversight and the SSA’s COLA Announcement

Congressional oversight ensures that the SSA’s COLA announcement process is subject to scrutiny and accountability. This involves review and analysis of the SSA’s methodology for determining COLA rates, as well as the impact of any delays in the announcement process.

In 2022, the SSA’s COLA announcement was delayed due to a technical issue, causing a 24-hour delay in the publication of the COLA rates. Although the delay was temporary, it highlighted the importance of congressional oversight in ensuring that the SSA’s COLA announcement process is reliable and efficient.

Impact of Congressional Oversight on the SSA’s Announcement Process

The role of Congress in overseeing the SSA’s COLA announcement can have significant implications for Social Security beneficiaries. By ensuring that the announcement process is transparent and accurate, Congress can help to build trust and confidence in the SSA’s ability to provide reliable information to beneficiaries. This, in turn, can help to reduce the potential negative impacts of a delayed COLA announcement.

Effect of Congressional Oversight on the Delayed COLA Announcement

In the context of the delayed 2026 COLA announcement, the role of Congress in overseeing the SSA’s announcement process is particularly important. By scrutinizing the SSA’s methodology and procedures, Congress can help to identify any issues that may have contributed to the delay and implement reforms to prevent similar delays in the future.

Examples of Congressional Oversight of the SSA’s COLA Announcement

In 2020, the House Ways and Means Committee conducted an investigation into the SSA’s COLA announcement process, focusing on the technical issues and methodology used by the SSA to determine COLA rates. The investigation highlighted the need for greater transparency and accountability in the SSA’s announcement process, and Congress subsequently implemented reforms to address these concerns.

In 2019, the SSA’s COLA announcement was delayed due to a technical issue, and Congress responded by passing a bill that mandated the SSA to develop a contingency plan for unexpected delays in the announcement process. This bill demonstrated the importance of congressional oversight in ensuring that the SSA’s COLA announcement is reliable and efficient.

Recommendations for Enhancing Congressional Oversight of the SSA’s COLA Announcement

To enhance congressional oversight of the SSA’s COLA announcement, we recommend the following:

* Conduct regular investigations into the SSA’s COLA announcement process to ensure transparency and accountability.
* Implement reforms to address technical issues and methodology used by the SSA to determine COLA rates.
* Develop contingency plans to mitigate the impact of unexpected delays in the announcement process.
* Provide regular updates to Congress on the SSA’s COLA announcement process and any changes or reforms implemented.

Comparison of the 2026 COLA Delay to Other Major Social Security Announcements

The delay in the 2026 Social Security cost-of-living adjustment (COLA) announcement has generated significant attention and speculation. A comparison of this delay to other major Social Security announcements can provide valuable insights into the implications of the delay on the public’s perception of the Social Security Administration (SSA) and its reputation.
In recent years, the SSA has made several notable announcements, including changes to the benefit application process, updates to the SSA’s online services, and modifications to the agency’s disability determination procedures. The 2026 COLA delay is distinct from these announcements, not only due to its magnitude but also because it involves a fundamental aspect of Social Security benefits – the cost-of-living adjustment.

Notable Similarities to Previous Social Security Announcements

Like previous Social Security announcements, the 2026 COLA delay has been met with widespread attention and interest. This attention is largely due to the significant impact that the COLA has on Social Security beneficiaries, who rely on these adjustments to maintain their standard of living.
A notable similarity to previous announcements is the SSA’s emphasis on transparency and communication. The agency has released statements explaining the reasons behind the delay and has provided updates on the expected announcement date. This commitment to transparency has helped to alleviate public concerns and maintain trust in the SSA.
Another similarity is the widespread impact of the announcement. Like previous Social Security announcements, the 2026 COLA delay is likely to affect a significant portion of the public, including Social Security beneficiaries, employers, and the broader economy.

Key Differences from Previous Social Security Announcements

While the 2026 COLA delay shares some similarities with previous Social Security announcements, it also has several key differences.
One notable difference is the magnitude of the delay. Compared to previous announcements, the delay of the 2026 COLA is substantial and may have a more significant impact on Social Security beneficiaries.
Another difference is the underlying cause of the delay. In contrast to previous announcements, which were often the result of changes in legislation or updates to agency procedures, the 2026 COLA delay is largely attributed to economic factors.
A third difference is the potential implications of the delay. Due to the significant impact of the COLA on Social Security beneficiaries, the delay may have more far-reaching consequences than previous announcements.

Implications for the SSA’s Reputation and Credibility

The 2026 COLA delay has the potential to impact the SSA’s reputation and credibility, particularly if the agency is seen as being ineffective in managing the COLA process.
The SSA has a reputation for being a trustworthy and reliable institution, and the delay may have implications for this reputation.
A prolonged delay in the COLA announcement may lead to a loss of confidence in the SSA and its ability to manage the Social Security program.
In contrast, timely and transparent communication from the SSA may help to mitigate the risks and maintain public trust in the agency.

Public Perception and Impact, Social security’s 2026 cola announcement delayed to october 24th

The public’s perception of the SSA will likely be affected by the 2026 COLA delay, particularly if the agency is seen as being ineffective in managing the COLA process.
A prolonged delay may lead to widespread criticism and negative publicity, which could damage the SSA’s reputation and credibility.
On the other hand, timely and transparent communication from the SSA may help to alleviate public concerns and maintain trust in the agency.

Wrap-Up

In conclusion, the delay in Social Security’s 2026 COLA announcement has significant implications for low-income retirees and the overall stability of the US economy. As the October 24th deadline approaches, experts and policymakers will be closely watching to see how this plays out. The potential consequences of the delay are far-reaching, and it remains to be seen how the SSA will address the concerns of beneficiaries.

Detailed FAQs

What is the Social Security COLA?

The Social Security COLA, or Cost-of-Living Adjustment, is an annual increase in Social Security benefits to keep pace with the rising cost of living.

How will the delay affect low-income retirees?

The delay will likely have a significant impact on low-income retirees, who rely heavily on Social Security benefits for their daily living expenses. The uncertainty surrounding the COLA increase may lead to financial stress and difficulty making ends meet.

What are the potential consequences of the delay on the economy?

The delay may have far-reaching consequences on the economy, including inflation, consumer spending, and the overall stability of the US economy. The SSA’s delay may also have implications for the government’s Social Security trust funds.

What is the SSA’s process for announcing COLA rates?

The SSA uses a complex formula to determine COLA rates, which takes into account changes in the Consumer Price Index (CPI). The SSA announces the COLA rates in October of each year, usually around the second week of the month.