A bill to amend title II of the Social Security Act to provide that insurance renewal commissions, and other income attributable to services performed prior to retirement, shall not be taken into account in determining net earnings from self-employment for purposes of the earnings test.

Summary

Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to disregard, for purposes of determining eligibility for social security benefits: (1) renewal commissions received by an insurance salesman from life insurance which the salesman sold before reaching age 65; and (2) any other income attributable to services performed before the taxable year in which he or she attained age 65, when the receipt of income on a deferred basis is a common practice in trades or businesses of the kind from which such income is derived.

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1 official file

• Introduced in House

  summary · EN · 29 January 1979

  Open at official source

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