Bill Introduced to Calculate More Accurate Cost of Living Adjustments for Federal Retirement Benefits HR-3351

According to myfederalretirement.com

 Last week, Congressman Mike Honda (D-CA) introduced the CPI-E Act of 2015 (H.R. 3351) which would require Social Security programs and many federal retirement programs to use the Consumer Price Index for the Elderly (CPI-E) to calculate cost of living adjustments and thus ensure seniors’ benefits are not diminished over time.

“The costs seniors bear are different than those for younger people. Our current method of accounting for cost of living adjustments does not take that into consideration. We need to recognize this discrepancy and change the formula that determines federal retirement programs to make sure our seniors can enjoy a safe, secure, and healthy life in their later years. Seniors depend on these programs and deserve to be treated fairly,” said Congressman Honda.

Honda’s bill would use the CPI-E to ensure that benefits for retirees address the disproportionately rising costs specific to seniors, such as healthcare and housing costs. It will adjust the benefits programs such as Social Security old age, survivors, and disability insurance (OASDI) benefits, civil service retirement, military retirement, veterans’ pensions and compensations, and other retirement programs.

via Bill Introduced to Calculate More Accurate Cost of Living Adjustments for Federal Retirement Benefits.