HR 314 114th Congress House Social Welfare Inflation and prices Social security and elderly assistance

Notch Fairness Act of 2015

Introduced: January 13, 2015 Introduced by: Meng, Grace Democratic · New York See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 27, 2015

Referred to the Subcommittee on Social Security.

Jan 13, 2015

Referred to the House Committee on Ways and Means.

Jan 13, 2015

Introduced in House

Plain-English summary Congressional Research Service

Notch Fairness Act of 2015

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.

("Notch" refers to birth in the United States between 1917 and 1921, as a result of which a retiree born between those years received lower cost-of-living increases in Social Security than others after Congress readjusted Social Security benefits in 1977.)

Sets forth a schedule of additional benefit increases for such beneficiaries (and related beneficiaries), with percentages declining from 55% to 5% 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.

What's happening now February 27, 2015

Referred to the Subcommittee on Social Security.

Committees of jurisdiction 2