A bill to amend the Social Security Act to establish a guaranteed minimum annual income, based on the level of the prevailing statutory minimum wage, for all residents of the United States who are age 60 or over.

Adds a new title (title XXI: Assured Minimum Annual Income Benefits for the Aged) to the Social Security Act. Establishes a guaranteed minimum annual income, based on the level of the prevailing statutory minimum wage, for all residents of the United States who are age 60 or over. Authorizes appropriations of sums necessary to carry out such provisions.