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Social Security Act (Titles II, VIII, XVI)

The main law that created Social Security. Title II covers retirement, disability, and survivor benefits; Title VIII covers special benefits for certain veterans; and Title XVI covers Supplemental Security Income (SSI) for low-income seniors and people with disabilities.

Cost-of-Living Adjustment (COLA)

An annual increase in Social Security and other benefits to help them keep pace with inflation and maintain buying power.

Consumer Price Index (CPI)

A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, published by the Bureau of Labor Statistics.

Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)

A specific version of the CPI that tracks price changes for a particular group of consumers, mainly those in urban areas working in wage or clerical jobs. This is currently used for Social Security COLAs.

Consumer Price Index for Elderly Consumers (CPI-E)

A specific version of the CPI designed to track price changes for goods and services typically purchased by individuals aged 62 and older. This bill proposes using this index.

Bureau of Labor Statistics (BLS)

An agency within the U.S. Department of Labor that collects, processes, analyzes, and disseminates essential statistics, including various Consumer Price Index measures.