AARP Wants Method For Calculating Cost-Of-Living To Remain The Same

Volunteers and staff of Arizona AARP are lobbying members of Congress this week to not change the way cost-of-living adjustments are calculated for Social Security recipients.

A new report form the AARP Public Policy Institute calculates that every benefit dollar generates two dollars in spending by Arizona individuals and businesses, adding almost $30 billion a year to the state’s economy. AARP State Director David Mitchell says that also translates to jobs.

"The $15.9 billion paid in benefits actually helped Arizona workers either find or keep 202,000 jobs,” Mitchell said.

He says changing the method of calculating cost-of-living adjustments to what’s called a chained CPI, would cost Arizona recipients thousands of benefit dollars over the long-term, and hurt the state’s economy.

The Washington contingent of AARP is delivering the report and thousands of petition signatures to congressional offices this week.