Summary: H.R.3788 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.3788. Bill summaries are authored by CRS.

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Introduced in House (12/17/1987)

Social Security Notch Adjustment Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish a new alternative formula for computing the primary insurance amount (used in calculating the amount of OASDI benefits to which an individual is entitled) of workers born after 1916 and before 1930. Makes the new formula effective beginning January 1987, but provides retroactive benefits of up to $1,000 for months prior to January 1987.

Excludes the earnings an individual who was born before 1917 earns in or after the year he or she reaches age 70 from the calculation of benefits payable to such individual after 1985.