SWEPT Act of 2016

Bill: 114-hr-4728
Sponsor: full_name: Rep. Smith, Adam [D-WA-9]
Introduced: 2016-03-10
Policy area: Social Welfare
Subjects: Social security and elderly assistance

Wages and earnings
Latest action: action_date: 2016-03-14
text: Referred to the Subcommittee on Social Security.

Summaries:
action_date: 2016-03-10
action_desc: Introduced in House
text: <p><b>SWEPT Act of 2016</b></p> <p>This bill amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act with respect to the exception to the windfall elimination provision (WEP) under which an individual's Social Security benefits may be reduced for work for an employer that does not withhold Social Security taxes.</p> <p>The bill revises the formula for computation of an individual's primary insurance benefit amount to: (1) lower from 30 to 25 the number of years of coverage required for exception to the WEP; (2) alter the determination of partial exemptions for those who have more than 20 but less than 25 years of coverage; and (3) reduce the dollar amount of annual earnings subject to Social Security taxes required to constitute an applicable year of Social Security coverage.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 4728 IN THE HOUSE OF REPRESENTATIVES March 10, 2016 Mr. Smith of Washington introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend title II of the Social Security Act to expand the exception to the windfall elimination provision based on years of coverage.

1. Short title This Act may be cited as the SWEPT Act of 2016 . 2. Expansion of the exception to the windfall elimination provision based on years of coverage (a) Reduction in the number of years of coverage required (1) In general Section 215(a)(7)(D) of the Social Security Act ( 42 U.S.C. 415(a)(7)(D) ) is amended by striking 30 each place it appears and inserting 25 . (2) Partial exemptions Section 215(a)(7)(D) of the Social Security Act ( 42 U.S.C. 415(a)(7)(D) ) is further amended by striking the table and inserting the following: If the number of such The applicable  individual’s years of coverage  (as so defined) is: percent is: 24 80 23 70 22 60 21 50. (b) Reduction of the dollar amount required To constitute a year of coverage Section 215(a)(7)(D) of the Social Security Act ( 42 U.S.C. 415(a)(7)(D) ) is amended by striking the reference to 15 percent therein shall be deemed to be a reference to 25 percent and inserting each of the references to 25 percent and the reference to 15 percent therein shall each be deemed to be a reference to 12.5 percent . (c) Effective date The amendments made by subsection (a) shall apply with respect to primary insurance amounts computed or recomputed on or after the date of the enactment of this Act.