All Information (Except Text) for H.R.2440 - More Transparent and Honest Communications with American Workers Reform Act of 2009111th Congress (2009-2010)
More Transparent and Honest Communications with American Workers Reform Act of 2009
Official Titles
Official Titles - House of Representatives
Official Title as Introduced
To amend title XI of the Social Security Act to provide that annual Social Security account statements indicate, in estimating the level of projected benefits of eligible individuals, the effect on such benefits levels of benefit reductions which may be necessary, in the absence of future legislative remedies, by reason of anticipated insolvency of the Social Security Trust Funds.
Actions Overview (1)
Date
Actions Overview
05/14/2009
Introduced in House
05/14/2009 Introduced in House
All Actions (2)
Date
All Actions
05/14/2009
Referred to the House Committee on Ways and Means. Action By: House of Representatives
05/14/2009
Introduced in House Action By: House of Representatives
05/14/2009 Referred to the House Committee on Ways and Means.
Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.
Committee / Subcommittee
Date
Activity
Reports
House Ways and Means
05/14/2009
Referred to
Related Bills (0)
No related bill information was received for H.R.2440.
More Transparent and Honest Communications with American Workers Reform Act of 2009 - Amends title XI of the Social Security Act to revise requirements for estimates of potential old-age insurance benefits in Social Security account statements eligible individuals may request.
Directs the Commissioner of Social Security, in any case in which the projections of future levels of receipts and disbursements of the Social Security Trust Funds indicate that the balance in the Funds may become insufficient to pay benefits in full when due, to indicate in benefits estimates the percentage reduction in payment level that could result without intervening enactment of remedies by Congress.
Requires Social Security account statements also to: (1) estimate projected benefits for each eligible individual, assuming the current earnings rate and assuming, in the alternative, retirement at age 62, at the applicable normal retirement age, and at age 70; and (2) set forth a separate schedule of such estimated projected benefits reflecting any percentage reduction in the case of each retirement alternative which would occur after the future date of Trust Fund insufficiency.
All Summaries (1)
Shown Here: Introduced in House (05/14/2009)
More Transparent and Honest Communications with American Workers Reform Act of 2009 - Amends title XI of the Social Security Act to revise requirements for estimates of potential old-age insurance benefits in Social Security account statements eligible individuals may request.
Directs the Commissioner of Social Security, in any case in which the projections of future levels of receipts and disbursements of the Social Security Trust Funds indicate that the balance in the Funds may become insufficient to pay benefits in full when due, to indicate in benefits estimates the percentage reduction in payment level that could result without intervening enactment of remedies by Congress.
Requires Social Security account statements also to: (1) estimate projected benefits for each eligible individual, assuming the current earnings rate and assuming, in the alternative, retirement at age 62, at the applicable normal retirement age, and at age 70; and (2) set forth a separate schedule of such estimated projected benefits reflecting any percentage reduction in the case of each retirement alternative which would occur after the future date of Trust Fund insufficiency.