Social Security Retirement Age Reform Act of 1993

Summary: Social Security Retirement Age Reform Act of 1993 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to phase in an increase in the age for normal and early retirement to, respectively, ages 70 and 67.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Social Security Retirement Age 
Reform Act of 1993''.

SEC. 2. PHASED IN 5-YEAR INCREASE IN AGE FOR ELIGIBILITY FOR OASDI 
              BENEFITS BY THE YEAR 2030.

    (a) Definitions.--Section 216(l) of the Social Security Act (42 
U.S.C. 416(l)) is amended to read as follows:

             ``Normal Retirement Age; Early Retirement Age

    ``(l)(1) The term `normal retirement age' means--
            ``(A) with respect to an individual who attains (or would 
        attain) the reference age (as defined in paragraph (3)(A)) 
        before January 1, 2000, 65 years of age;
            ``(B) with respect to an individual who attains (or would 
        attain) the reference age after December 31, 1999, and before 
        January 1, 2030, 65 years of age plus the number of months in 
        the age increase factor (as determined under paragraph (3)(B)) 
        for the calendar in which such individual attains the reference 
        age; and
            ``(C) with respect to an individual who attains (or would 
        attain) the reference age after December 31, 2030, 70 years of 
        age.
    ``(2) The term `early retirement age' means 3 years less than 
normal retirement age.
    ``(3) For purposes of paragraphs (1) and (2)--
            ``(A) the term `reference age' means 62 years of age in the 
        case of an old-age, wife's, or husband's insurance benefit, and 
        60 years of age in the case of a widow's or widower's insurance 
        benefit, and
            ``(B) the age increase factor for any individual shall be 
        equal to \2/12\ of the number of months in the period beginning 
        with January 2000 and ending with December of the year in which 
        the individual attains the reference age.''.
    (b) Additional Amendments.--
            (1) Retirement age redesignated normal retirement age.--
                    (A) Title II of such Act is further amended--
                            (i) in subsections (a), (b), (c), (d), (e), 
                        (f), (q), (r), and (w) of section 202 (42 
                        U.S.C. 402),
                            (ii) in subsections (c) and (f) of section 
                        203 (42 U.S.C. 403),
                            (iii) in section 215(f)(5) (42 U.S.C. 
                        415(f)(5)), and
                            (iv) in section 223(a) (42 U.S.C. 423(a)),
                by striking ``retirement age (as defined in section 
                216(l))'' each place it appears and inserting ``normal 
                retirement age (as defined in section 216(l)(1))''.
                    (B) Subsections (h) and (i) of section 216 of such 
                Act (42 U.S.C. 416) are each amended by striking 
                ``retirement age (as defined in subsection (l))'' each 
                place it appears and inserting ``normal retirement age 
                (as defined in subsection (l)(1))''.
            (2) Age 62 currently designated as early retirement age.--
                    (A) Title II of such Act is further amended--
                            (i) in subsections (a), (b), (c), (e), (f), 
                        (h), and (q) of section 202 (42 U.S.C. 402),
                            (ii) in section 213(a)(2)(A)(ii) of such 
                        Act (42 U.S.C. 413(a)(2)(A)(ii)),
                            (iii) in section 213(a)(2)(B) of such Act 
                        (the first place it appears) (42 U.S.C. 
                        413(a)(2)(B)),
                            (iv) in section 214(a)(1) (42 U.S.C. 
                        414(a)(1)),
                            (v) in subsections (a) and (d)(5) of 
                        section 215 (42 U.S.C. 415), and
                            (vi) in subsections (a)(2) and (c)(1)(A) of 
                        section 223 (42 U.S.C. 423),
                by striking ``age 62'' each place it appears and 
                inserting ``early retirement age (as defined in section 
                216(l)(2))''.
                    (B) Subsections (b)(3)(A), (c)(6)(A), (f)(3)(A), 
                (g)(6)(A), and (i)(3)(A) of section 216 of such Act (42 
                U.S.C. 416) are each amended by striking ``age 62'' 
                each place it appears and inserting ``early retirement 
                age (as defined in subsection (l)(2))''.
                    (C) Subparagraphs (F) and (G) of section 202(q)(3) 
                of such Act (42 U.S.C. 402(q)(3)) are each amended by 
                striking ``the age of 62'' and inserting ``early 
                retirement age (as defined in section 216(l)(2)).''.
            (3) Conforming adjustments to other age references.--
                    (A) Title II of such Act is further amended--
                            (i) in subsections (e) and (f) of section 
                        202 (42 U.S.C. 402),
                            (ii) in subsections (b)(1), (c)(3), and 
                        (d)(1)(C) of section 222 (42 U.S.C. 422), and
                            (iii) in section 225(a) (42 U.S.C. 425(a)),
                by striking ``age 60'' each place it appears and 
                inserting ``5 years less than normal retirement age (as 
                defined in section 216(l)(2))''.
                    (B) Subsections (e)(1)(B)(ii) and (f)(1)(B)(ii) of 
                section 202 of such Act (42 U.S.C. 402) is further 
                amended by striking ``age 50'' each place it appears 
                and inserting ``15 years less than normal retirement 
                age (as defined in section 216(l)(1))''.