Section 1 Short title
This Act may be cited as the “Inflation Transparency for Seniors Act”.
Inflation Transparency for Seniors Act
A BILL
To amend title XI of the Social Security Act to require social security account statements to include 10-year projections of the Consumer Price Index for All Urban Consumers, and for other purposes.
Sec. 2 Projections to be included in social security account statements
Section 1143(a)(2) of the Social Security Act is amended—
in subparagraph (D), by striking “and” at the end;
in subparagraph (E), by striking the period at the end and inserting “; and”; and
by adding at the end the following:
“(F) The most recent 10-year projections, as of the date of the request, of the Consumer Price Index for All Urban Consumers (CPI–U), as such projections are published by the Congressional Budget Office, and an explanation that future cost-of-living benefit increases will be calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI–W) and that such projections are not intended to reflect such benefit increases.”