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Elizabeth Warren calls for Social Security pay rise

November 6, 2015

Via: itCurated
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New legislation introduced by Sen. Elizabeth Warren and 17 others would give Social Security recipients the same raise chief executives saw last year.

The populist measure, which has little chance of passage, would give Social Security recipients a 3.9% increase, which is the same gain as the average CEO compensation rise for the top 350 firms. The legislation is backed by another 16 Senate Democrats and Sen. Bernie Sanders, the Vermont independent who’s seeking the Democratic presidential nomination.

This would be an average annual benefit increase of $581 per recipient. Social Security recipients are not scheduled to get any cost-of-living adjustment next year, because there wasn’t a rise in the third quarter in the inflation measure used to determine adjustments.