Retired Americans plan Tuesday rally

2013-06-28T18:00:00Z 2015-04-08T16:49:21Z Retired Americans plan Tuesday rallyBy the Lincoln Journal Star JournalStar.com
June 28, 2013 6:00 pm  • 

The Alliance for Retired Americans, a nationwide advocacy organization representing 4 million senior citizens, is sponsoring a national day of action Tuesday to protest a cut in Social Security benefits, 5-6:30 p.m., in front of the federal building at 15th and O streets in Lincoln.

The so-called chained CPI formula change would result in an annual $1,000 cut in benefits by the time a beneficiary reaches 85, the alliance said in a news release.

A resolution sponsored by 92 Democrats says "the Chained Consumer Price Index should not be used to calculate cost of living adjustments for Social Security benefits."

The formula would reduce Social Security cost of living adjustments by taking into account alternative purchases people can make in order to avoid goods and services whose costs are rising quickly.

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