H.R.3638 - Social Security Flat Rate COLA Act of 1987100th Congress (1987-1988)
|Sponsor:||Rep. Penny, Timothy J. [D-MN-1] (Introduced 11/10/1987)|
|Committees:||House - Energy and Commerce; Veterans' Affairs; Ways and Means|
|Latest Action:||House - 11/30/1987 Referred to Subcommittee on Health and the Environment. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3638 — 100th Congress (1987-1988)All Information (Except Text)
Introduced in House (11/10/1987)
Social Security Flat Rate COLA Act of 1987 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) base cost-of-living increases solely on the percentage increase in the Consumer Price Index; and (2) provide for a single annual cost-of-living increase in primary insurance amounts at a uniform flat rate.
Provides for further amendments regarding cost-of-living adjustments and: (1) Supplemental Security Income for the Aged, Blind, and Disabled (SSI) under title XVI of the Social Security Act; (2) supplementary medical insurance under title XVIII (Medicare) of the Act; (3) veterans' pension and survivors' benefits; and (4) limitations on benefits and contributions under qualified pension, profit-sharing, stock bonus, and other such plans.