A bill to amend title II of the Social Security Act to provide for annual reporting, to the employees and self-employed individuals concerned, of the amounts of the social security tax contributions made or imposed with respect to their wages and self-employment income and of the amounts of the wages and self-employment income for which they have been credited.

Summary

Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to require the Secretary of the Treasury to annually certify in a clear and understandable form to each individual whose income is subject to social security taxes the following: (1) the total wages for which the individual has been credited and the portions of such total paid by the employer; (2) the total social security taxes imposed and collected from such individual; (3) the amounts paid into, the amounts paid out of, and the amount of the surplus or deficit in, the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund for the latest fiscal year for which that information is available, and the projected surplus or deficit in such Trust Funds for the next ensuing five fiscal years; and (4) a telephone number and address to which questions regarding the account of the individual can be directed.

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1 official file

• Introduced in Senate

  summary · EN · 23 September 1978

  Open at official source

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