A bill to amend title II of the Social Security Act to extend the solvency of the Social Security Trust Funds by increasing the normal and early retirement ages under the Social Security program and modifying the cost-of-living adjustments in benefits.
Defend and Save Social Security Act of 2012 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to: (1) increase the normal retirement age by specified graduated stages to 67 by 2019 and to 70 after December 31, 2030, and the early retirement age to 63 by 2019 and to 64 after December 31, 2022; (2) revise requirements for computation of the age increase factor; and (3) modify the cost-of-living adjustment (COLA) to 1% below the general COLA.
Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S3987-3989)
Introduced in Senate
Read twice and referred to the Committee on Finance.
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