Do not change Soc Sec Cola from CPI-W to C-CPI-U; it would reduce the average benefit by $40/mo to $65/mo in 10 years.

For a $1200 per month benefit, if the COLA is changed from 1.7% to 1.4% (.3% lower) in 5 years the monthly benefit is reduced by $19.14, in 10 years the monthly benefit is reduced by $41.34. A monthly benefit of $1600 would lose $27.17 after 5 years, and $63.46 after 10 years.
The current index does not adequately compensate Soc Sec retirees for the increased cost of health care, drug costs, insurance and Medicare premiums. When retirees reach their 80's, they are usually unable to work, have exhausted much of their savings and 410K's, and have higher health care costs. Reducing the COLA would have a tremendous impact on people in their 70's and 80's; their benefits should be increasing, not decreasing, at a time in their lives when they are more dependent on Social Security income.