Summary: H.R.664 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.664. Bill summaries are authored by CRS.

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Introduced in House (02/14/2001)

Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to modify the formula for determining the amount of reduced monthly OASDI benefits payable to a spouse, surviving spouse, or parent receiving monthly payments from a Federal or State pension plan. Declares that such benefit reductions shall be equal to the lesser of: (1) the amount by which the total amount of the combined monthly benefit (before reduction) and monthly pension exceeds $1,200, adjusted for inflation; or (2) an amount equal to two-thirds of the amount of any such monthly pension plan payment.