What does a Chained Consumer Price Index mean for COLAs?
A reduced COLA may be part of the debt ceiling negotiations. Arthur Stein is a certified financial planner and he tells you what you need to prepare for.
One of the ideas being considered in the debt limit talks is changing the formula that calculates cost-of-living adjustments for retirees. The proposal calls for a switch to a Chained Consumer Price Index to measure inflation. Arthur Stein is a certified financial planner with SPC Financial in Rockville, Maryland. He joined the Federal Drive to discuss what that change would mean for federal retirees.
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