H.R. 3916 · 117th Congress
Strengthening Social Security for Long Career Workers Act
- Stage
- In committee
- Sponsor
- Tom Rice
- Introduced
- 2021-06-15
- Latest action
- 2021-06-15 · Introduced in House
Summary
Strengthening Social Security for Long Career Workers Act
This bill increases Social Security benefits for certain lifetime low earners. Specifically, it establishes a new method to calculate the Special Minimum Primary Insurance Amount (PIA) for workers who become eligible for benefits after calendar year 2027.
The Special Minimum PIA is an alternative benefit formula that increases benefits paid to workers who earn low wages throughout their careers and, under current law, is adjusted annually based on price growth. This bill revises the method of calculating the Special Minimum PIA by tying it to the national average wage index, which generally grows faster than the price index currently being used.