US Congress House Bill 3112 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on June 29 2017 - 25% progression, died in committee
Action: 2017-07-17 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]

Providing Choice for Social Security Retirees Act This bill amends title II (Old Age, Survivors, and Disability Insurance) (OASDI) of the Social Security Act to allow an individual who is entitled to OASDI benefits to claim a delayed-retirement credit in a partial lump sum. Under current law, an individual's OASDI benefits are increased by a two-thirds of 1% for each month in which the individual, after attaining full retirement age but prior to attaining age 70, delays claiming those benefits. The bill allows an individual who delays claiming OASDI benefits to instead opt to receive a smaller percentage increase (one-half of 1%) for each applicable month, plus a one-time lump sum payable at the time of the individual's entitlement to the benefits. The amount of this lump sum shall equal the sum of the present values of one-sixth of 1% of the amount of the individual's monthly benefits for each month in the individual's life-expectancy period.

Providing Choice for Social Security Retirees Act

Rep. Sam Johnson [R-TX]

Rep. Adrian Smith [R-NE]

Date	Chamber	Action
2017-07-17	House	Referred to the Subcommittee on Social Security.
2017-06-29	House	Referred to the House Committee on Ways and Means.
2017-06-29	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/3112/all-info
Text	https://www.congress.gov/115/bills/hr3112/BILLS-115hr3112ih.pdf