In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Retirement Security for Today's
Four-Year-Olds Act of 2011''.

SEC. 2. INCREASE IN THE FULL RETIREMENT AGE AND THE EARLY RETIREMENT
AGE.

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

''Retirement Age and Early Retirement Age

''(l)(1) The term 'retirement age' means--
''(A) with respect to an individual who attains the
applicable reference age (as defined in paragraph (4)) before
January 1, 2000, 65 years of age;
''(B) with respect to an individual who attains the
applicable reference age after December 31, 1999, and before
January 1, 2005, 65 years of age plus the number of months in
the first age increase factor (as determined under paragraph
(3)(A)) for the calendar year in which such individual attains
the applicable reference age;
''(C) with respect to an individual who attains the
applicable reference age after December 31, 2004, and before
January 1, 2017, 66 years of age;
''(D) with respect to an individual who attains the
applicable reference age after December 31, 2016, and before
January 1, 2022, 66 years of age plus the number of months in
the first age increase factor (as determined under paragraph
(3)(A)) for the calendar year in which such individual attains
the applicable reference age;
''(E) with respect to an individual who attains the
applicable reference age after December 31, 2021, and before
January 1, 2023, 67 years of age;
''(F) with respect to an individual who attains the
applicable reference age after December 31, 2022, and before
January 1, 2069, 67 years of age plus the number of months in
the second age increase factor (as determined under paragraph
(3)(B)) for the calendar year in which such individual attains
the applicable reference age; and
''(G) with respect to an individual who attains the
applicable reference age after December 31, 2068, 70 years of
age.
''(2) The term 'early retirement age' means--
''(A) in the case of an old-age, wife's, or husband's
insurance benefit--
''(i) with respect to an individual who attains the
applicable reference age before January 1, 2023, 62
years of age;
''(ii) with respect to an individual who attains
the applicable reference age after December 31, 2022,
and before January 1, 2069, 62 years of age (in the
case of an old-age, wife's, or husband's insurance
benefit), plus the number of months in the second age
increase factor (as determined under paragraph (3)(B))
for the calendar year in which such individual attains
the applicable reference age; and
''(iii) with respect to an individual who attains
the applicable reference age after December 31, 2068,
65 years of age; and
''(B) in the case of a widow's or widower's insurance
benefit, 2 years less than the age provided under subparagraph
(A).
''(3)(A) The first retirement age increase factor for any
individual who attains the applicable reference age in a calendar year
within the 5-year period consisting of the calendar years 2000 through
2004 or the calendar years 2017 through 2021 shall be equal to /12\
of the number of months in the period beginning with January of the
first calendar year in such period and ending with December of the year
in which the individual attains the applicable reference age.
''(B) The second retirement age increase factor for any individual
who attains the applicable reference age in the 46-year period
consisting of the calendar years 2023 through 2068 shall be equal to
/47\ of the number of months in the period beginning with January
2023 and ending with December of the year in which the individual
attains the applicable reference age. In any case in which the second
age increase factor for any calendar year is not a whole number of
calendar months, such factor shall be deemed to be equal to the next
lower whole number of calendar months.
''(4) The term 'applicable 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).''.
(b) Conforming Extension of Maximum Age for Entitlement to Delayed
Retirement Credit.--Section 202(w)(2)(A) of such Act (42 U.S.C.
402(w)(2)(A)) is amended--
(1) by striking ''prior to the month in which such
individual attained age 70, and'' and inserting ''prior to the
later of--''; and
(2) by adding at the end the following:
''(i) the month in which such individual would
attain age 70, or
''(ii) the month which ends 3 years after the end
of the month in which such individual attained
retirement age (as defined in section 216(l)), and''.
(c) Conforming Increase in Number of Elapsed Years for Purposes of
Determining Primary Insurance Amount.--Section 215(b)(2)(B)(iii) of
such Act (42 U.S.C. 415(b)(2)(B)(iii)) is amended by striking ''age
62'' and inserting ''early retirement age''.
(d) Study Relating to Additional Conforming Amendments.--
(1) In general.--As soon as practicable after the date of
the enactment of this Act, the Commissioner of Social Security,
in consultation with the Secretary of the Treasury and the
Secretary of Health and Human Services, shall conduct a study
of the additional technical and conforming amendments to title
II of the Social Security Act and other relevant provisions of
law relating to the age of a beneficiary or applicant for
benefits which are necessary to effectively carry out the
programs provided for under such title and other provisions,
taking into account the amendments made by this section.
(2) Report.--Not later than 1 year after the date of the
enactment of this Act, the Commissioner shall transmit to the
Committee on Ways and Means of the House of Representatives and
the Committee on Finance of the Senate a report of the results
of the study conducted pursuant to paragraph (1). The
Commissioner shall include in such report such recommendations
for legislative and administrative changes as the Commissioner,
in consultation with the Secretary of the Treasury and the
Secretary of Health and Human Services, determines to be
appropriate.
A:
Retirement Security for Today's Four-Year Olds Act of 2011 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to increase the age for retirement to 70 and the early retirement age to 65 as of January 1, 2069.

Revises requirements accordingly for calculation of the first and the second retirement age increase factors.