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S 960 114th Congress Senate Social Welfare Census and government statistics Inflation and prices Self-employed Social security and elderly assistance Wages and earnings

Protecting and Preserving Social Security Act

Introduced: April 15, 2015 Introduced by: Hirono, Mazie K. Democratic · Hawaii See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 15, 2015
Read twice and referred to the Committee on Finance.
Apr 15, 2015
Introduced in Senate
 Plain-English summary Congressional Research Service

Protecting and Preserving Social Security Act

Directs the Bureau of Labor Statistics of the Department of Labor to prepare and publish for each calendar month a Consumer Price Index for Elderly Consumers (CPI-EC) that indicates changes over time in consumption expenditures typical for individuals in the United States age 62 or older.

Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSAct) to make the CPI-EC the applicable Consumer Price Index for computation of cost-of-living increases in OASDI benefits for such individuals.

Amends the Internal Revenue Code to prescribe special rules for the determination of wages and self-employment income above the contribution and benefit base after 2015.

Amends SSAct title II to include surplus average indexed monthly earnings in the determination of primary OASDI amounts.

What's happening now April 15, 2015

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1