A bill to provide for the monthly publication of a consumer price index for senior citizens and other social security beneficiaries, for use by the Congress in the determination of benefit increases under title II of the Social Security Act.

Directs the Secretary of Labor to prepare and transmit to the Congress a Consumer Price Index for Senior Citizens and other Social Security Beneficiaries, designed to reflect specifically the relevant price information and inflationary pressures for individuals 65 years of age or older, or who are otherwise entitled to monthly benefits under title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act.

Provides that determination of future social security cost-of-living increases shall be based on Consumer Price Index for Senior Citizens established pursuant to this Act.