A bill to require the Social Security Administration to make changes to the social security terminology used in the rules, regulation, guidance, or other materials of the Administration.

Bill: 118-s-692
Sponsor: full_name: Sen. Cassidy, Bill [R-LA]
Introduced: 2023-03-07
Policy area: Social Welfare
Latest action: action_date: 2023-03-07
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2023-03-07
action_desc: Introduced in Senate
text: <p>This bill changes certain terms that are used by the Social Security Administration (SSA) to describe the ages at which a worker may claim Social Security retirement benefits.</p> <p>First, the SSA must use <i>minimum benefit age</i> instead of <i>early eligibility age</i>. This refers to the earliest age (62 under current law) at which a worker may claim benefits. (Currently, the benefit amount of a worker who claims benefits early is reduced to account for the longer period during which the worker is expected to receive benefits.)</p> <p>Second, the SSA must use <i>standard benefit age </i>instead of <i>full retirement age</i> and <i>normal retirement age</i>. These terms refer to the age at which a worker may claim benefits without a reduction in the benefit amount. (Currently, this age ranges from 65 to 67, depending on the worker's year of birth.)</p> <p>Last, the SSA must use the term <i>maximum benefit age</i> for any reference to age 70 as the maximum age at which a worker may receive delayed retirement credits. The SSA may not use the term <i>delayed retirement credit. </i>These terms refer to the mechanism that increases the benefit amount of a worker who delays claiming benefits after reaching the full retirement age. (Currently, a worker receives a credit for each month between the full retirement age and age 70 that the worker delays claiming benefits. Each credit increases the benefit amount that the worker will receive after claiming benefits by a specified percentage.)</p>

tv_txt: II 118th CONGRESS 1st Session S. 692 IN THE SENATE OF THE UNITED STATES March 7, 2023 Mr. Cassidy (for himself, Mr. Coons , Ms. Collins , and Mr. Kaine ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To require the Social Security Administration to make changes to the social security terminology used in the rules, regulation, guidance, or other materials of the Administration.

1. Changes to social security terminology Not later than January 1, 2025, the Commissioner of Social Security shall ensure that, in any rules, regulation, guidance, or other materials of the Social Security Administration, whether online or in print— (1) the term early eligibility age is replaced with the term minimum benefit age ; (2) the terms full retirement age and normal retirement age are replaced with the term standard benefit age ; and (3) the term delayed retirement credit shall not be used and any reference to age 70 as the maximum age up to which delayed retirement credits can be received shall be replaced with the term maximum benefit age .