A bill to amend title II of the Social Security Act to increase all benefits thereunder by 20 percent, and to provide that full benefits (when based on attainment of retirement age) will be payable to both men and women at age 60.

Provides, under title II (Old-Age, Survivors', and Disability Insurance) of the Social Security Act, that all benefits shall be increased by 20 percent. Increases the lump-sum payment upon death to $306. Increases the old-age and survivors monthly benefit payments to those in a transitionally insured status to $55.20 for husbands and widows, and to $27.60 for wives. Makes the same amount of increase applicable to those uninsured individuals who have attained the age of 72 and have at least 3 quarters of coverage. Provides that full benefits (when based on attainment of retirement age) will be payable to both men and women at age 60. Applies the same retirement age criterion to those persons covered by the Railroad Retirement Act of 1937.