Providing a one-time benefit boost would be a better option versus adopting the CPI-E measurement, Boyens said, due to the fact that it would be more effective at reducing poverty and cost less. Soaring prices come as some lawmakers and Social Security advocates. "That index is not an exact match to the Social Security beneficiary population, and it hasn't been fully studied," Chantel Boyens, principal policy associate at the Urban Institute, said Wednesday during a webinar hosted by the Bipartisan Policy Center. While there was a 7 year-over-year increase, the Social Security cost-of-living adjustment for 2022 was 5.9. However, the CPI-E is still an experimental index, and not everyone agrees it would be the best measure. your benefits increase in addition to any cost-of-living increases. President Joe Biden and certain Democratic congressional bills have also proposed making this same change. As long as you continue to work, you continue to pay Social Security taxes (the. The group is calling for the annual cost-of-living adjustment to be calculated based on different data - the Consumer Price Index for the Elderly, or CPI-E - which it says would better measure the costs seniors face. "The fact that this is the highest increase since 1982 does not speak well for Social Security's ability to keep pace with those expenses," said Max Richtman, president and CEO of the committee, in a statement. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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