A bill to amend title II of the Social Security Act to increase the retirement test exempt amount to $10,620 in 1990, to lower the reduction factor for certain earnings to 25 percent, to extend eligibility to certain adopted children, to provide for the issuance of earnings and benefit statements, and for other purposes.

Summary

Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to increase the amount of monthly income which an individual who has attained retirement age may earn in 1990 without incurring a reduction in benefits. Reduces the benefits of an older worker by 25 percent of the first $5,000 of his or her excess earnings and 33 1/3 percent of additional excess earnings. (Currently, a 33 1/3 percent benefit reduction is applied against all excess earnings.) Provides beneficiaries with amounts due for past months by increasing their monthly benefit payments rather than making a lump-sum payment of such past-due amounts when such amounts result from a retroactive entitlement to benefits or a recomputation of benefits to account for recent earnings. Makes individuals who attained age 18 prior to being adopted by parents who were already entitled to old-age or disability insurance benefits eligible for child's insurance benefits if they lived with or were dependent upon such parents for the year preceding their adoption. Requires the Secretary of Health and Human Services to provide, upon request, beginning on October 1, 1990, a personal earnings and benefits statement to individuals who have a social security number, have wages or self-employment earnings, and have attained age 25 (hereinafter referred to as "eligible individuals"). Directs the Secretary to assure that eligible individuals are informed of the availability of the statement. Phases in the mandatory provision of such statement to each eligible individual for whom a mailing address can be determined. Amends the Internal Revenue Code to authorize the Internal Revenue Service to disclose the mailing address of an eligible individual to the Social Security Administration. Directs the Secretary to report to the Congress by October 1, 1996, on the implementation of this Act's requirements.

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

Timeline

1. 15 June 1989

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 15 June 1989

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

• Introduced in Senate · — · Download file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 15 June 1989

  Open at official source

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Sponsors

• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Moynihan, Daniel Patrick [D-NY] · D · Sponsor
• · ssfi00 · Standing

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