Social Security benefits are currently based on a beneficiary’s lifetime earnings and are indexed for changes in wages in the entire economy, which tend to be higher than the change in prices. Under progressive price indexing, lower income workers would continue to have their benefits calculated based on changes in wages. Higher income individuals, however, would see their benefits calculated based on changes in prices (Chained CPI) and not wages. As a result, higher income beneficiaries would see their benefits increase but at a slower rate than lower income beneficiaries. This reform would achieve a little over $50 billion in savings over 10 years.