A bill to adjust the normal and early retirement ages for receipts of benefits under the Social Security program, increase the maximum age for delayed retirement credit, and provide for progressive price indexing of benefits.
Social Security Solvency and Sustainability Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) to increase the normal retirement age by specified graduated stages to age 70.
Raises the early retirement age by specified graduated stages to 64 for an individual who attains age 62 after December 31, 2027.
Revises requirements for computation of the age increase factor.
Revises the formula for the maximum age for delayed retirement credit.
Prescribes a formula for progressive indexing of an individual's primary insurance amount.
Sponsor introductory remarks on measure. (CR S3987-3989)
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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