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How the Chained CPI Affects Social Security Payments
In his 2014 budget, President Obama proposes changing the measure of inflation used to calculate annual Social Security cost-of-living adjustments from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI) to the chained CPI beginning in 2015. This change would modestly improve the Social Security system’s finances, but result in retirees getting slightly smaller annual increases in their Social Security checks. Read more…
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