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Refiguring Inflation Will Hit Retirees’ Income
Earlier this month, President Barack Obama proposed to tweak the formula for calculating the cost-of-living adjustment, or COLA, for Social Security recipients. He wants to tie the adjustment to what’s called the Chained Consumer Price Index, which many believe is a truer reflection of how we spend money during economic swings. But it raises the questions: What’s the difference between a “chained” CPI and the CPI? And how will it affect my benefits? Read more…
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