A bill to amend the Social Security Act, to provide that any cost-of-living increase authorized in 1975 be effective with the month of January 1975.

Provides that any Old-Age, Survivors, and Disability Insurance benefits increase authorized in 1975 shall be effective with the month of January, 1975.

Stipulates that such increase in benefits authorized in 1975: (1) shall be paid in a lump sum at the earliest possible date; and (2) shall not be taken into account as income or resources for the purpose of determining the eligibility of any person receiving benefits or assistance, or for purposes of determining the amount of benefits or assistance, under any Federal program or under any State or local program financed in whole or in part with Federal funds.