H.R. 5342 · 114th Congress
Fair COLA for Seniors Act of 2016
- Stage
- In committee
- Sponsor
- Richard Nolan
- Introduced
- 2016-05-26
- Latest action
- 2016-09-19 · Referred to the Subcommittee on Workforce Protections.
Summary
Fair COLA for Seniors Act of 2016
This bill directs the Social Security Administration to make a one-time cost-of-living increase of 3.9%, effective with the month of June 2016, to benefits under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act.
Such increase shall not be considered a general annual benefit cost-of-living increase in calendar years 2016-2017.
"Consumer Price Index" shall mean Consumer Price Index for Elderly Consumers (CPI-E).
The Bureau of Labor Statistics of the Department of Labor shall prepare and publish the CPI-E authorized by the Older Americans Amendments Act of 1987 for each calendar month beginning with July of the calendar year following the calendar year in which this bill is enacted.