A bill to amend title 2 of the Social Security Act to repeal the earnings limitation for all workers age 62 and over, and to increase to $4,200 the amount of outside earnings which (subject to further increases under the automatic adjustment provisions) is admitted an individual each year without any deduction from benefits thereunder.

Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act by decreasing from 72 to 62 years the age at which deductions will no longer be made from benefits on account of noncovered work outside the United States. Increases to $4,200 the amount of outside earnings which is permitted an individual each year without any deduction from benefits.