H.R.776 - Guaranteed 3% COLA for Seniors Act of 2011112th Congress (2011-2012)
|Sponsor:||Rep. Engel, Eliot L. [D-NY-17] (Introduced 02/17/2011)|
|Committees:||House - Ways and Means; Education and the Workforce|
|Latest Action:||02/17/2011 Referred to House Education and the Workforce (All Actions)|
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Summary: H.R.776 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (02/17/2011)
Guaranteed 3% COLA for Seniors Act of 2011 - Directs the Bureau of Labor Statistics of the Department of Labor to prepare and publish a monthly Consumer Price Index for Elderly Consumers that indicates changes over time in expenditures for consumption which are typical for individuals in the United States who are age 62 or older.
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to: (1) require the use of such index to compute cost-of-living increases for Social Security benefits; and (2) provide, in the case of individuals who have attained age 62, for an annual cost-of-living increase of at least 3%.