A bill to provide for the monthly publication of a consumer price index for the aged and other social security beneficiaries, which shall be used in the provisions of the cost-of-living benefit increase authorized by title II of the Social Security Act.

Authorizes and directs the Secretary of Labor, through the Bureau of Labor Statistics, to prepare, as part of the Consumer Price Index published monthly by the Bureau of Labor Statistics, a consumer price index (to be known as the Consumer Price Index for the Aged and Other Social Security Beneficiaries) designed to reflect the relevant price information for individuals, as a group, who are 65 years of age or older or are otherwise entitled to monthly benefits under Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act.