United States Congress
Boosting Benefits and COLAs for Seniors Act
March 19, 2024
Summary
This bill would require the Social Security Administration to use the Consumer Price Index for Elderly Consumers (CPI-E) when calculating cost-of-living adjustments (COLAs) for Social Security benefits, ensuring that COLAs better reflect the spending patterns of seniors. It would apply the higher of CPI-E or CPI-W for benefit calculations. The bill applies to cost-of-living computation quarters ending on or after September 30, 2024.
Source: https://www.congress.gov/bill/118th-congress/s-bill/3974
Common questions
- What does "Boosting Benefits and COLAs for Seniors Act" cover?
- This bill would require the Social Security Administration to use the Consumer Price Index for Elderly Consumers (CPI-E) when calculating cost-of-living…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on March 19, 2024.