Computation of cost-of-living increases for Social Security benefits; consumer price index for elderly consumers

(a) Computation of cost-of-Living increases (1) In general Section 215(i) of the Social Security Act (42 U.S.C. 415(i)) is amended— (A) in paragraph (1)(G), by inserting before the period the following:, and, with respect to any monthly insurance benefit payable under this title, effective for adjustments under this subsection to the primary insurance amount on which such benefit is based (or to any such benefit under section 227 or 228), the applicable Consumer Price Index shall be the Consumer Price Index for Elderly Consumers and such primary insurance amount shall be adjusted under this subsection using such Index; and (B) in paragraph (4)— (i) by striking and by section 9001 and inserting, by section 9001; and (ii) by striking 1986, and inserting 1986, and by section 5(a) of the Safeguarding American Families and Expanding Social Security Act of 2025,. (2) Conforming amendments in applicable former law Section 215(i)(1)(C) of the Social Security Act, as in effect in December 1978 and applied in certain cases under the provisions of such Act in effect after December 1978, is amended by inserting before the period the following:, and, with respect to any monthly insurance benefit payable under this title, effective for adjustments under this subsection to the primary insurance amount on which such benefit is based (or to any such benefit under section 227 or 228), the applicable Consumer Price Index shall be the Consumer Price Index for Elderly Consumers and such primary insurance amount shall be adjusted under this subsection using such Index. (3) Effective date The amendments made by this subsection shall apply to determinations made by the Commissioner of Social Security under section 215(i)(2) of the Social Security Act (42 U.S.C. 415(i)(2)) with respect to cost-of-living computation quarters ending on or after September 30, 2026. (b) Consumer price index for elderly consumers (1) In general The Bureau of Labor Statistics of the Department of Labor shall prepare and publish an index for each calendar month to be known as the 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 have attained early retirement age (as defined under section 216(l)(2) of the Social Security Act (42 U.S.C. 416(l)(2)) for purposes of an old-age, wife's, or husband's insurance benefit. (2) Effective date Paragraph (1) shall apply with respect to calendar months ending on or after June 30 of the calendar year in which this Act is enacted. (3) Authorization of appropriations There are authorized to be appropriated such sums as are necessary to carry out the provisions of this subsection.