NCPSSM — The National Committee believes a fully developed...

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The National Committee believes a fully developed CPI-E represents the best hope for correcting problems with the CPI-W for America’s seniors.  Congress and the Administration should provide the BLS with the resources needed to perfect the CPI-E and make it the standard for calculating COLA adjustments for Social Security, Veterans, and Federal Civilian and Military retirement benefits.  America’s seniors worked hard for their earned benefits and they deserve to have their standard of living and purchasing power preserved through an accurate COLA calculation.
via NCPSSM.
Source: ncpssm.org
cpi-e social security politics seniors retirement entitlements p2 entitlement reform retirees retirement crisis elderly social insurance

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But they also call for switching COLAs to the Consumer Price Index for the Elderly or CPI-E, designed by the U.S. Bureau of Labor Statistics. The CPI-E would boost Social Security payments without worsening the system’s deficit.

via The Social Security Fix That Could Help the Poorest Retirees.

Related Reading:

Why Seniors Need a CPI-E.

But if the CPI-E determined the Social Security COLA, the expected average COLA would increase about 0.2 percentage points per year.

Source: bit.ly politics cpi-e elderly older americans COLA cost of living adjustment seniors retirement retirees retirement crisis entitlements entitlement reform social security social insurance p2
Baker proposes that if after a few years of studying this more robust CPI-E, economists find that it typically grows 0.2 or 0.3 percent more than the current price index, then it would be worth adopting the CPI-E or at least adding that increase onto the CPI-W.

via Huffington Post.

Related Reading:

No COLA Increase for Millions of Seniors.

No Social Security COLA Increase + Massive Medicare Hike for Millions.

Source: bit.ly social security COLA cpi-e politics seniors retirement entitlements medicare entitlement reform retirees retirement crisis health care p2
The ‪Social Security‬ Trustees say you probably won’t get a COLA increase next year because inflation is low. But we know the COLA formula doesn’t work for seniors and that’s why we want a new formula for seniors, the CPI-E. Read more from our...

The ‪Social Security‬ Trustees say you probably won’t get a COLA increase next year because inflation is low. But we know the COLA formula doesn’t work for seniors and that’s why we want a new formula for seniors, the CPI-E.

Read more from our release by clicking the graphic above or here.

Source: bit.ly social security COLA politics seniors entitlements retirement entitlement reform retirees retirement crisis cpi-e elderly p2
Fortunately, a better formula exists. It’s called the Consumer Price Index for the Elderly — or CPI-E — based on a ‘basket’ of goods and services that reflects older Americans’ spending patterns.
via Improved Social Security COLA would help seniors stay ahead of inflation.
Source: on.mktw.net politics cpi-e social security COLA cost of living adjustment seniors elderly healthcare health care retirement retirees retirement crisis retirement security entitlements entitlement reform p2
Future cost-of-living adjustments (COLAs) should be based on a  fully - developed Consumer Price Index for  the Elderly (CPI-E). We believe this index would more accurately measure the effect of inflation on the price of goods and  services that are purchased by seniors than  the current CPI-W, which reflects price increases based on the purchasing patterns of urban wage earners and clerical workers.
via NCPSSM.
Source: ncpssm.org social security cpi-e COLA cost of living politics seniors retirement retirement crisis retirees p2 entitlements entitlement reform
Social Security prevents approximately 26 million seniors from falling below the poverty line each year. When one is on a fixed income – that right now is a mere $14,000 per year on average – dealing with the ever-increasing costs of healthcare, prescriptions, and housing creates a situation that breaks the promises made 80 years ago when Social Security began.

Rep. Mike Honda (D-Calif.) and Richard Fiesta via The Hill.

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If accurate inflation protection for seniors is truly our goal, Congress needs to adopt a fully developed CPI for the elderly (CPI-E).

Source: ncpssm.org social security cpi-e politics mike honda seniors elderly older american retirees retirement retirement crisis entitlements entitlement reform p2
Instead they want to tie benefits to the consumer price index for the elderly, or CPI-E, an experimental index that gives more weight to the health care and housing costs that typically account for a larger share of older Americans’ budgets. The CPI-E also puts less value on transportation costs, since seniors are less likely to have to commute to jobs.

via Huffington Post.

Related Reading:

Why Seniors Need a CPI-E.

Source: bit.ly cpi-e COLA social security politics seniors retirement retirees retirement crisis elderly older americans p2 social insurance earned benefits entitlements entitlement reform
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