A bill to amend title II of the Social Security Act and the Internal Revenue Code of 1954 to provide that an individual who has attained age 65 may elect to treat any employment or self-employment performed by him as not covered for social security benefit purposes and exempt from social security taxes to the extent income from such employment and self-employment does not exceed $2,520.

Provides that an individual who has attained age 65 may elect under the Old-Age, Survivors, and Disability Insurance program of the Social Security Act to treat any employment or self-employment performed by him as not covered for social security benefit purposes and exempt from social security taxes under the Internal Revenue Code to the extent income from such employment and self-employment does not exceed $2,520.