Social Security Survivor Benefits Equity Act

This bill proposes to significantly update the Social Security lump sum death payment, which is currently capped at $255. It establishes a new initial payment amount of $2,900 for eligible survivors, replacing the previous formula.

Furthermore, the legislation introduces a mechanism to index this payment to inflation. Beginning in 2026, the $2,900 amount will be adjusted annually based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from October 2024 to October of the preceding year, rounded to the nearest $10.

These revisions aim to provide more substantial financial assistance to beneficiaries and ensure the payment's value keeps pace with economic changes, taking effect for individuals who die on or after January 1, 2025.