“A bill to amend title II of the Social Security Act to repeal the retirement earnings test, and for other purposes.”
No CRS summary available for this bill.
This section repeals the retirement earnings test (RET) under the Social Security Act by striking subsections (b), (c)(1), (d), (f), (h), (j), and (k) of section 203. (The RET reduces monthly retirement benefits for beneficiaries below full retirement age with earnings exceeding annual exempt amounts—$22,320 in 2024 (with $1 withheld for every $2 above), or $59,520 in the year attaining full retirement age ($1 for every $3 above); withheld benefits are credited via higher future payments.) It makes conforming amendments to section 203 and other Social Security Act provisions, including revisions to the definition of wages as earned income under the Supplemental Security Income (SSI) program by replacing the cross-reference to repealed section 203(f)(5)(C) with a new definition based on section 209 wages (computed without specified remuneration limits and with inclusions for certain non-employment services and exclusions for certain retirement payments). This section also repeals the parallel work-related benefit reduction provisions under the Railroad Retirement Act of 1974.