Notch Fairness Act of 2003

Summary

Notch Fairness Act of 2003 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the formula for the computation of minimum Old Age Insurance benefits for individuals who reached age 65 in or after 1979, and to whom applies the 15-year transition period for the changes in benefit computation rules enacted in the Social Security Amendments of 1977. Sets forth a schedule of additional benefit increases for such beneficiaries (and related beneficiaries), with percentages declining from 55 percent to five percent and keyed to the year an individual became eligible for such benefits between 1979 and 1988. Allows such beneficiaries, in the alternative, to receive lump sum payments over four years totaling $5,000.

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Timeline

1. 16 July 2003

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9498-9499)

   Source: IntroReferral

2. 16 July 2003

   Introduced

   Sponsor introductory remarks on measure. (CR S9497-9498)

   Source: IntroReferral

3. 16 July 2003

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 16 July 2003 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 July 2003

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 July 2003

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 16 July 2003

  Open at official source

Sponsors

• Sen. Reid, Harry [D-NV] · D · Sponsor
• · ssfi00 · Standing

Related records

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