17. they want to cut approx $660/yr if you're 65. at 85 you lose $1,147 a year (it's huge)
Chained CPI is a benefit cut that gets worse the longer a person is eligible for benefits. The average earner retiring at age 65 would get a $658 cut in annual benefits at age 75, a $1,147 cut at age 85, and a $1,622 cut at age 95. What is far more severe is the cumulative effect of the COLA cut as it compounds over time. The average earner retiring at age 65 would get a cumulative cut of $4,631 at age 75, $13,910 at age 85, and $28,004 at age 95. Proposed increases in benefits at older ages do not adequately compensate for the cut.