S. 1418 · 108th Congress
Notch Fairness Act of 2003
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ReidSponsorNo cosponsors.
Notch Fairness Act of 2003 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the formula for the computation of minimum Old Age Insurance benefits for individuals who reached age 65 in or after 1979, and to whom applies the 15-year transition period for the changes in benefit computation rules…
What it does: CRS summary · Introduced in Senate · Jul 16, 2003
Notch Fairness Act of 2003 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the formula for the computation of minimum Old Age Insurance benefits for individuals who reached age 65 in or after 1979, and to whom applies the 15-year transition period for the changes in benefit computation rules enacted in the Social Security Amendments of 1977.
Sets forth a schedule of additional benefit increases for such beneficiaries (and related beneficiaries), with percentages declining from 55 percent to five percent and keyed to the year an individual became eligible for such benefits between 1979 and 1988.
Allows such beneficiaries, in the alternative, to receive lump sum payments over four years totaling $5,000.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Notch Fairness Act of 2003
Latest action (Jul 16, 2003): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9498-9499)
Policy area: Social Welfare · Origin: Senate · Introduced: Jul 16, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.