Excerpt: A potential component of the administration's Social Security proposal is to shift from 'wage indexing' of benefits to 'price indexing' ... This [report] discusses the reasons for keeping benefits up-to-date with either prices or wages. Then it describes the mechanics of both wage and price indexing, and the impact of shifting from wages to prices. Finally, it explores the implications of price indexing in terms of ... periodic adjustments or increased reliance on welfare programs.