Protecting and Improving Social Security Benefits and Calculations
This act modifies how old-age, survivors, and disability insurance benefits are calculated to better reflect the cost of living for seniors and prevent unexpected benefit reductions. It also ensures that benefits are paid for the entire month of a beneficiary's death, directly impacting family finances.
Key points
Introduces a new inflation index (CPI-E) for elderly consumers, potentially leading to higher Social Security benefit increases.
Changes how earnings subject to Social Security contributions are determined, which may affect contributions for high-income earners.
Ensures Social Security benefits are paid for the full month in which a beneficiary dies, preventing loss of partial benefits for families.
Modifies benefit calculations to prevent unintended drops, enhancing financial stability for beneficiaries.
Expired
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