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cost-of-living benefit

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Noun1.cost-of-living benefit - a benefit that goes to anyone whose money receipts increase automatically as prices rise
benefit - financial assistance in time of need


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The supplementary cost-of-living benefits, which drop from 5 percent to 3 percent, stop at age 62, excepting the same stipulation.
Also, part of the actuarial surplus was used to enhance the pension benefits for existing retirees, who will now enjoy a cost-of-living benefit that was not previously provided.
The Boskin panel said that correcting for this upward bias would save the government $1 trillion over the next 12 years from lower annual cost-of-living benefits and higher taxes stemming from smaller annual inflation adjustments to tax brackets.
 
 
 
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