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GGD-82-41 1 (1982-06-01)

handle is hein.gao/gaobabdib0001 and id is 1 raw text is: BY THE COMPTROLLER GENERAL !8 -S Report To The Congress OF THE UNITED STATES A CPI For Retirees Is Not Needed Now But Could Be In The Future Beneficiaries of many Federal retirement programs receive cost-of-living increases tied to a consumer price index that reflects the buying habits of urban wage earners and clercial workers. GAO assessed the financial implications of using a workers index to trigger increases in retirement benefits. The most significant financial implications GAO identified were due not to the use of a workers index, as such, but to the way the index's homeownership component is con- structed. The methodology for computing homeownership costs is being revised. GAO is recommending legislative action that will hasten the revision's effect on Federal re- tirement programs. After allowing for the change in computing homeownership costs, existing indexes would have provided a reasonable indicator of the impact of inflation on retirees. Differ- ences in how retirees and workers spend their money could change that, however, depending on future economic conditions. GAO is recommending steps directed at ensuring that the Government knows if and when that has happened. oV1.- S 7ll!!tNtll li ' II ' 111W III! IIt 118515 GAO/GGD-82-41 COT( 1 JUNE 1, 1982

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