Social Security Flat Rate COLA Act of 1987

[AI summary unavailable — showing source text] Social Security Flat Rate COLA Act of 1987 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) base cost-of-living increases solely on the percentage increase in the Consumer Price Index; and (2) provide for a single annual cost-of-living increase in primary insurance amounts at a uniform flat rate. Provides for further amendments regarding cost-of-living adjustments and: (1) Supplemental Security Income for the Aged, Blind, and Disabled (SSI) under title XVI of the Social Security Act; (2) supplementary medical insurance under title XVIII (Medicare) of the Act; (3) veterans' pension and survivors' benefits; and (4) limitations on benefits and contributions under qualified pension, profit-sharing, stock bonus, and other such plans.…