Some recent deficit reduction proposals call for shifting to a “chained CPI” to adjust Social Security and other benefits to keep pace with inflation. Other policy proposals call for using a special price index for the elderly to adjust Social Security benefits. What are the implications of such changes?

This session will feature a discussion of the Academy’s newly-released fact sheet: Should Social Security’s Cost-of-Living-Adjustment Be Changed? Register now to get answers to your questions about these policy proposals.

Moderator:
Richard Hobbie, Executive Director, National Association of State Workforce Agencies (NASWA)

Speakers:
Virginia Reno, Vice President for Income Security, National Academy of Social Insurance (NASI)
Benjamin Veghte, Income Security Research Associate, NASI

• What is current Social Security policy on cost-of-living adjustments (COLAs)?
• Are other consumer price indexes (CPIs) available?
• What is a “chained CPI”? How would it affect seniors’ benefits? How would it affect Social Security’s finances?
• How would switching to a special CPI for the elderly affect benefits for seniors? How is it likely to affect Social Security’s long-term finances?
• How do living costs of seniors compare to those of other households? How does out-of-pocket health spending for seniors change as they grow older?

Attendees will receive copies of the fact sheet, Should Social Security’s Cost-of-Living Adjustment Be Changed? as well as NASI’s new primer, Social Security Benefits, Finances, and Policy Options.