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Changing how COLA is calculated
U.S. Senator Kirsten Gillibrand has introduced the bill “Under the Boosting Benefits and COLAs for Seniors Act (S. 3974), which would change the calculation of the yearly Social Security cost-of-living-adjustment (COLA) by switching from the Consumer Price Index Urban Wage Earners and Clerical Workers (CPI-W) to the Consumer Price Index for elderly consumers (CPI-E) instead. Suzanne Blake reports on how Social Security COLA may get an upgrade. Read Ms. Blake’s article here…
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