To direct the Commissioner of Social Security and the Secretary of Health and Human Services to develop a plan outlining the steps which might be taken to correct the Social Security benefit disparity known as the notch problem.

Declares that the Commissioner of Social Security and the Secretary of Health and Human Services should immediately study and report to the Congress on ways to correct the benefit disparity caused by the 1977 changes in the social security benefit formula under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act.