Fair COLA for Seniors Act of 2016

[AI summary unavailable — showing source text] Fair COLA for Seniors Act of 2016 This bill directs the Social Security Administration to make a one-time cost-of-living increase of 3.9%, effective with the month of June 2016, to benefits under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act. Such increase shall not be considered a general annual benefit cost-of-living increase in calendar years 2016-2017. "Consumer Price Index" shall mean Consumer Price Index for Elderly Consumers (CPI-E). The Bureau of Labor Statistics of the Department of Labor shall prepare and publish the CPI-E authorized by the Older Americans Amendments Act of 1987 for each calendar month beginning with July of the calendar year following the calendar year in which this bill is enacted.…