HUMAN RIGHTS »» SENIOR'S RIGHTS »» SENIOR CPI-E »» Mar 06, 2023

Most Social Security benefits are paid to older Americans who have contributed a portion of their lifetime wages into this retirement fund. These benefits are currently calculated using the CPI-W, or the Consumer Price Index for urban Wage Earners and Clerical Workers. This process analyzes the price change in a “basket” of goods and services these workers typically purchase. The resulting increase or decrease of these prices over time reflects the amount of inflation in our economy. To keep up with inflation, our Social Security Administration periodically increases benefits by what it calls Cost of Living Adjustments (COLA). However, advocates claim the CPI basket of goods and services used to calculate inflation is much different for the elderly than it is for younger consumers. Studies have shown the current CPI underestimates the higher rates of inflation for essentials such as housing and healthcare on which seniors spend much of their income. Advocates say seniors need their own CPI for Social Security benefits to keep pace with inflation – a CPI-E with E for elderly. Proposed Legislation: Reintroduction of H.R.2302 - Protecting and Preserving Social Security Act (116th Congress 2019-2020) Prospective Sponsor: Rep. Marcy Kaptur OH) I oppose reforming current Senior CPI-E policy and wish to donate resources to the campaign committee of Speaker Kevin McCarthy (CA). I support revising the methodology for calculating Old Age, Survivors, and Disability Insurance (OASDI) benefits and phasing out the cap on compensation subject to Social Security taxation by: 1.) Preparing and publishing a Consumer Price Index for Elderly Consumers (CPI-E) to track cost-of-living changes for individuals age 62 or older. The Social Security Administration shall use the CPI-E to calculate the cost-of-living adjustment for OASDI benefits instead of the Consumer Price Index for Urban Wage Earners and Clerical Workers. 2.) Phasing out and after 2025 eliminating the cap on compensation ($132,900 in 2019) subject to Social Security taxation. This change applies to both wage earners and the self-employed. 3.) Changing the calculation for the primary insurance amount (the amount received by a beneficiary who elects to receive OASDI benefits at full retirement age) by including the additional earnings that are now taxed as a result of the cap elimination. And wish to donate resources to the campaign committee of Rep. Marcy Kaptur OH) and/or to an advocate group currently working with this issue.

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I support revising the methodology for calculating Old Age, Survivors, and Disability Insurance (OASDI) benefits and phasing out the cap on compensation subject to Social Security taxation by: 1.) Preparing and publishing a Consumer Price Index for Elderly Consumers (CPI-E) to track cost-of-living changes for individuals age 62 or older. The Social Security Administration shall use the CPI-E to calculate the cost-of-living adjustment for OASDI benefits instead of the Consumer Price Index for Urban Wage Earners and Clerical Workers. 2.) Phasing out and after 2025 eliminating the cap on compensation ($132,900 in 2019) subject to Social Security taxation. This change applies to both wage earners and the self-employed. 3.) Changing the calculation for the primary insurance amount (the amount received by a beneficiary who elects to receive OASDI benefits at full retirement age) by including the additional earnings that are now taxed as a result of the cap elimination. And wish to donate resources to the campaign committee of Rep. Marcy Kaptur OH) and/or to an advocate group currently working with this issue.

Trustee Candidates

Representative If elected as a trustee, the campaign committee of Rep. Marcy Kaptur OH) will be unconditionally awarded the funds pledged to this issue along with a letter requesting her to favorably consider either reintroducing H.R.2302 - Protecting and Preserving Social Security Act, or a similar version thereof. National Association of Area Agencies on Aging If elected as a trustee, National Association of Area Agencies on Aging will be awarded the funds pledged to this issue along with a letter requesting these funds be used to advocate for seniors having their own Social Security Cost of Living Adjustments indexed to goods and services most often purchased by elderly Americans. About: The National Association of Area Agencies on Aging (n4a) is a 501(c)(3) membership association representing America’s national network of 622 Area Agencies on Aging (AAAs) and providing a voice in the nation’s capital for the more than 250 Title VI Native American aging programs. Whether it is helping Washington set priorities, building the capacity of our members, raising the visibility of AAAs and Title VI programs nationwide, offering training and educational events, or working to drive excellence in the fields of I&R/A, transportation, livable communities and volunteerism, n4a is dedicated to supporting the success of its members.

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