COLA Change: How Much Would You Lose?

The chained CPI – a proposal to change the way the cost-of-living adjustment (COLA) is calculated for Social Security and veterans benefits – can be as confusing as its name. And with it comes a number of daunting statistics: Retirees and veterans would lose $129 billion in benefits over the next 10 years. If you’re 62 and take early retirement this year, by age 92 you’d be losing the equivalent of a full month of income every year. Poverty rates …

Hammering an Idea for Stingier COLAs

This video might leave you with the impression that nobody wants a proposed change for calculating cost-of-living adjustments (COLA). Not older Americans. Not veterans. Not women. Not labor. And certainly not independent U.S. Sen. Bernie Sanders of Vermont. That the so-called chained Consumer Price Index has no support isn’t the case, of course, or these people wouldn’t have met at the U.S. Capitol to take turns bashing the proposal. Though the formula would slow increases in Social Security, veterans and …