WLEN: Walberg Introduces Plan to Provide Certainty to Seniors on Social Security
Congressman Tim Walberg has introduced House Resolution 7765, the Certainty for Older Living Americans Act, to strengthen benefits and provide certainty to seniors living on Social Security.
The legislation provides a much-needed update to our nation’s Social Security benefits by including a minimum cost-of-living adjustment threshold so recipients can plan more securely for the future and be certain they will receive an annual increase. The resolution requires the Social Security Administration to provide one-year advanced notice on the forthcoming year’s COLA benchmark.
Under H.R. 7765, seniors will be guaranteed to receive an increase each year. The bill ensures that beneficiaries receive the greater of the annual Social Security COLA increase or the newly established minimum threshold based on the ten-year average of adjustments.
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