I 

111TH CONGRESS 

1ST SESSION H. R. 2440 

To amend title XI of the Social Security Act to provide that annual Social 

Security account statements indicate, in estimating the level of projected 

benefits of eligible individuals, the effect on such benefits levels of benefit 

reductions which may be necessary, in the absence of future legislative 

remedies, by reason of anticipated insolvency of the Social Security 

Trust Funds. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 14, 2009 

Mr. MCCARTHY of California (for himself, Mr. FLEMING, and Mr. POSEY) introduced the following bill; which was referred to the Committee on Ways 

and Means 

A BILL 

To amend title XI of the Social Security Act to provide 

that annual Social Security account statements indicate, 

in estimating the level of projected benefits of eligible 

individuals, the effect on such benefits levels of benefit 

reductions which may be necessary, in the absence of 

future legislative remedies, by reason of anticipated insolvency of the Social Security Trust Funds. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘More Transparent and 

3 Honest Communications with American Workers Reform 

4 Act of 2009’’. 

5 SEC. 2. NOTICE OF EFFECT ON PROJECTED BENEFIT LEV6 ELS OF ANTICIPATED INSOLVENCY OF THE 

7 SOCIAL SECURITY TRUST FUNDS. 

8 (a) IN GENERAL.—Section 1143(a) of the Social Se9 curity Act (42 U.S.C. 1320b–13(a)) is amended by adding 

10 at the end the following new paragraph: 

11 ‘‘(4) In making estimates of potential old-age insur12 ance benefits pursuant to paragraph (2)(D), the Commis13 sioner shall— 

14 ‘‘(A) estimate projected benefits for each eligi15 ble individual, assuming the current earnings rate 

16 and assuming, in the alternative, retirement at age 

17 62, at the applicable normal retirement age, and at 

18 age 70, 

19 ‘‘(B) in any case in which the projections in the 

20 latest report of the Board of Trustees under section 

21 201(c) regarding future levels of receipts and dis22 bursements of the Trust Funds indicate, using inter23 mediate assumptions, that the balance in the Trust 

24 Funds may become by any specified future date in25 sufficient to pay benefits in full when due, indicate 

26 the percentage reduction in the level of benefit payVerDate Nov 24 2008 06:28 May 16, 2009 Jkt 079200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H2440.IH H2440

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1 ments that could result, without intervening enact2 ment of remedies by the Congress, from such an in3 sufficient balance in the Trust Funds, and 

4 ‘‘(C) set forth a separate schedule of such esti5 mated projected benefits of such eligible individual 

6 which reflects any such percentage reduction in the 

7 case of each retirement alternative described in sub8 paragraph (A) which would occur after the future 

9 date referred to in subparagraph (B).’’. 

10 (b) EFFECTIVE DATE.—The amendment made by 

11 this section shall apply with respect to Social Security ac12 count statements issued after December 31, 2009. 

Æ 


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