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tion 213 of the Social Security Act
(42 U.S.C. 413).
(iii) MATTERS
TO
BE
INCLUDED.—
The Commissioner shall include with the
pamphlet sent to each eligible individual
pursuant to clause (i)—
(I) a statement of the number of
quarters of coverage indicated in the
records of the Social Security Admin-
istration as of the date of the descrip-
tion as credited to such individual
under section 213 of such Act and the
date as of which such records may be
considered accurate, and
(II) the number of toll-free ac-
cess by telephone established by the
Commissioner pursuant to clause (i).
(c) 
ADJUSTMENTS
TO
PRIMARY
INSURANCE
AMOUNTS.—
(1) IN GENERAL.—Section 215 of the Social
Security Act (42 U.S.C. 415) is amended by adding
at the end the following:
‘‘Adjustment of Primary Insurance Amount of Eligible
Employees and Eligible Self-Employed Individuals Under
Part B
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‘‘(j)(1) Except as provided in paragraph (2), in the
case of an individual who is—
‘‘(A) an eligible employee, as defined under sec-
tion 255(3), or
‘‘(B) an eligible self-employed individual, as de-
fined under section 255(4),
such individual’s primary insurance amount shall be deter-
mined under subsection (a)(1)(A) (before subsequent ad-
justments made under subsection (i)), by substituting the
first, second, and third primary insurance amount factors
determined in the following table for the primary insur-
ance amount factors ‘‘90’’, ‘‘32’’, and ‘‘15’’ in clauses (i),
(ii), and (iii), respectively:
‘If individual’s age in 2000 is:
The PIA factors for such in-
dividual are—
First
Second
Third
25 and under ..........................................................
26 to 35 ..................................................................
35 to 45 ..................................................................
45 to 55 ..................................................................
55 and over .............................................................
‘‘(2)(A) In the case of an individual described
in paragraph (1) who has not attained age 55 in
1998 and who becomes entitled to disability insur-
ance benefits under section 223 or dies before at-
taining age 62, such individual’s second and third
primary insurance amount factors shall equal such
factors contained in the table in paragraph (1) for
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individuals who have attained age 55 or over in
2000, reduced by the amount described in subpara-
graph (B).
‘‘(B) The amount described in this subpara-
graph is equal to—
‘‘(i) the excess of—
‘‘(I) the second (or third) primary in-
surance amount factor contained in the
table in paragraph (1) for individuals who
have attained age 55 or over in 2000, over
‘‘(II) the second (or third) primary in-
surance amount factor contained in such
table for individuals of the age of the indi-
vidual in 2000; multiplied by—
‘‘(ii) the fraction—
‘‘(I) the numerator of which is the
number of years such individual is alive
and not disabled after age 21 (or after
2000, if later) and before age 62, and
‘‘(II) the denominator of which is 40
(or the number of years after 2000 and be-
fore the year the individual attains age 62,
if less).’’.
(2) CONFORMING
AMENDMENT
TO
RAILROAD
RETIREMENT ACT OF 1974.—Section 1 of the Rail-
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road Retirement Act of 1974 (45 U.S.C. 231) is
amended by adding at the end the following:
‘‘(s) In applying applicable provisions of the Social
Security Act for purposes of determining the amount of
the annuity to which an individual is entitled under this
Act, such individual shall not be treated as an ‘eligible
individual’ as defined in section 253(4) of the Social Secu-
rity Act.’’.
(3) EFFECTIVE DATE.—The amendments made
by this subsection apply with respect to months after
December 1999.
SEC. 3. PHASED-IN INCREASE IN SOCIAL SECURITY RETIRE-
MENT AGES.
(a) NORMAL RETIREMENT AGE.—Section 216(l) of
the Social Security Act (42 U.S.C. 416(l)) is amended—
(1) in paragraph (1), by striking subparagraphs
(B), (C), (D), and (E) and inserting the following:
‘‘(B)(i)(I) except as provided in clause (ii),
with respect to an individual who attains age 62
after December 31, 1999, and before January
1, 2029, 65 years of age plus 2⁄12 of the num-
ber of months in the period beginning with Jan-
uary 2000 and ending with December of the
year in which the individual attains age 62,
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‘‘(II) with respect to an individual who at-
tains age 62 after December 31, 2028, 70 years
of age, and
‘‘(III) with respect to an individual who at-
tains age 62 after December 31, 2029, 70 years
of age plus 1⁄24 of the number of months in the
period beginning with January 2030 and ending
with December of the year in which the individ-
ual attains age 62 (rounded down to a full
month); and
‘‘(ii)(I) in the case of widow’s or widower’s
insurance benefits, with respect to an individual
who attains age 60 after December 31, 1999,
and before January 1, 2029, 63 years of age
plus 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 age 60,
‘‘(II) with respect to an individual who at-
tains age 60 after December 31, 2028, 68 years
of age, and
‘‘(III) with respect to an individual who at-
tains age 60 after December 31, 2029, 68 years
of age plus 1⁄24 of the number of months in the
period beginning with January 2030 and ending
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with December of the year in which the individ-
ual attains age 60 (rounded down to a full
month).’’; and
(2) by striking paragraph (3).
(b) EARLY RETIREMENT AGE.—Section 216(L)(2) of
the Social Security Act (42 U.S.C. 416(l)(2)) is amended
to read as follows:
‘‘(2) The term ‘early retirement age’ means—
‘‘(A) except as otherwise provided in
this paragraph, age 62 in the case of an
old-age, wife’s, or husband’s insurance
benefit, and age 60 in the case of a wid-
ow’s or widower’s insurance benefit;
‘‘(B)(i)(I) except as provided in clause
(ii), with respect to an individual who at-
tains age 62 after December 31, 1999, and
before January 1, 2017, 62 years of age
plus 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 age 62,
‘‘(II) with respect to an individual
who attains age 62 after December 31,
2016, 65 years of age, and
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‘‘(III) with respect to an individual
who attains age 62 after December 31,
2029, 65 years of age plus 1⁄24 of the num-
ber of months in the period beginning with
January 2030 and ending with December
of the year in which the individual attains
age 62 (rounded down to a full month);
and
‘‘(ii)(I) in the case of widow’s and
widower’s insurance benefits, with respect
to an individual who attains age 60 after
December 31, 1999, and before January 1,
2017, 60 years of age plus 2⁄12 of the num-
ber of months in the period beginning with
January 2000 and ending with December
of the year in which the individual attains
age 60,
‘‘(II) with respect to such an individ-
ual who attains age 60 after December 31,
2016, 63 years of age, and
‘‘(III) with respect to such an individ-
ual who attains age 60 after December 31,
2029, 63 years of age plus 1⁄24 of the num-
ber of months in the period beginning with
January 2030 and ending with December
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of the year in which the individual attains
age 60 (rounded down to a full month).’’.
(c) REDUCTION IN BENEFITS FOR EARLY RETIREES
MAINTAINED
AT
CURRENT
LEVEL.—Section
202(q)(9)(A) of the Social Security Act (42 U.S.C.
402(q)(9)(A)) is amended by inserting ‘, but in no event
shall be greater than 30 percent’ before the semicolon.
SEC. 4. MODIFICATION OF CPI CALCULATION FOR SOCIAL
SECURITY COLAS.
Notwithstanding any other provisions of title II of the
Social Security Act, with respect to calculations made
after December 31, 1999, with respect to any cost-of-liv-
ing calculation under such title, the Bureau of Labor Sta-
tistics of the Department of Labor shall reduce the annual
percentage change in the Consumer Price Indexes, as de-
termined without regard to this section, by 0.5 percentage
point.
Æ