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United States · Bill · HR

H.R. 5308 (103rd)

Social Security Payment Equity Act of 1994

referredUnited States· United States Congress· EN

Introduced

29 November 1994

Last action

6 December 1994 · Referred

Status

Referred to the Subcommittee on Social Security.

Sponsors

Rep. Smith, Nick [R-MI-7]

Subjects

Discovery layer

Source updated

26 August 2025

Official sourceDownload fileView documentsShare

Summary

Social Security Payment Equity Act of 1994 - Amends title II (Old-Age, Survivors and Disability Insurance) (OASDI) to set limits on payment of OASDI benefits during any year, based on the work record of an individual with higher levels of income for such year, if total payments of such benefits have exceeded prior contributions plus interest. Specifies schedules of benefit reductions from ten percent to 100 percent for single and for married individuals. Requires the Commissioner of Social Security to provide annual social security account statements to eligible individuals with respect to such benefit limitations. Adjusts the gradual increase in retirement age from 65 to 68 so as to commence with calendar year 1996 and reach age 68 for those who would attain age 65 in or after calendar year 2031.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 29 November 1994

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 29 November 1994

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 29 November 1994

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 6 December 1994

    Referred

    Referred to the Subcommittee on Social Security.

    Source: Committee

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 29 November 1994

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 29 November 1994

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 29 November 1994

    Open at official source

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Sponsors

Related records

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Sources

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