S 1823
101th Congress
Senate
Social Welfare
Earnings
Old age, survivors and disability insurance
Older workers
Retirement income
A bill to amend the Social Security Act to increase the amount of earnings exempt from reduction under the retirement test under title II of such Act.
Introduced: October 31, 1989
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 31, 1989
Read twice and referred to the Committee on Finance.
Oct 31, 1989
Introduced in Senate
Plain-English 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 and 1991 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.)
Includes certain deferred compensation in the computation of wage-based OASDI benefit adjustments.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1