A bill to amend the Internal Revenue Code of 1954 and the Social Security Act to provide that fully insured individuals reaching the age of 65 may elect to institute a moratorium on old age insurance benefits, employee taxes and employer taxes, in order to continue working until choosing to retire.

Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act and the Internal Revenue Code to permit a fully-insured individual reaching age 65 to elect to execute a voluntary moratorium which: (1) waives all rights to old-age insurance benefits; (2) exempts such an individual from employee taxes; and (3) exempts such an individual's employer from employer taxes.