S. 804 · 112th Congress
Social Security Solvency and Sustainability Act
- Stage
- In committee
- Sponsor
- Lindsey Graham
- Introduced
- 2011-04-13
- Latest action
- 2011-04-13 · Introduced in Senate
Summary
Social Security Solvency and Sustainability Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) to increase the normal retirement age by specified graduated stages to age 70.
Raises the early retirement age by specified graduated stages to 64 for an individual who attains age 62 after December 31, 2027.
Revises requirements for computation of the age increase factor.
Revises the formula for the maximum age for delayed retirement credit.
Prescribes a formula for progressive indexing of an individual's primary insurance amount.