For the first time in a generation, there will be no cost-of-living increase next year for Social Security recipients, according to the trustees who administer the system.

And although benefit levels will not go down, millions will receive slightly smaller monthly checks next year. The reason is that premiums for Medicare’s prescription drug program, which are often deducted from Social Security checks, are due to increase slightly.

For those who rely heavily on their Social Security income, the lack of a cost-of-living increase is discouraging news. Many recipients have few other resources and limited earning potential, so Congress and the states should be alert to the possibility that some seniors may need help. But overall, seniors receiving social security payments are facing the same situation as many other Americans ”“ stagnant income, offset somewhat by a general lack of inflation.

The lack of a cost of living increase reflects the unusual state of the economy. From the start of Social Security, cost of living adjustments have been a progressive feature that have kept seniors from slipping into poverty. No matter how bad inflation gets, the system guarantees that benefits will keep pace. This year beneficiaries received a 5.8 percent increase in January ”“ the largest since 1982 ”“ thanks to last year’s high gasoline prices.

Because of this increase, those who rely on the program should be a bit ahead this year, and we hope inflation does not harm them in 2010. Whatever turn the economy takes will eventually be reflected in the 2011 adjustment, and we hope the Social Security Trust Fund won’t be tapped for a midyear adjustment.

Since 1940, Social Security has provided for the secure retirement of Americans over 65 and it has a substantial trust fund in reserve for the retirement of the next generation. Eventually adjustments may be needed as retirements increase and the trust fund is forecast to be entirely depleted by 2037.

This day of reckoning ”“ still far in the future ”“ should be addressed by making small adjustments to keep ample revenue available to meet Social Security’s obligations. We should avoid big changes in a program that successfully serves 51 million Americans, and will soon serve many more.

— Questions? Comments? Contact Kristen Schulze Muszynski or Nick Cowenhoven at 282-1535 or kristenm@journaltribune.com or nickc@journaltribune.com.