,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #caab  ,,in ,,the ,,house ,,of  
,,representatives  ,june #bi1 #bjag,mr4 
,sam ,johnson of ,texas 7for himself and
 ,mr4 ,smith of ,nebraska7 introduced   
the following bill2 which was referred  
to the ,committee on ,ways and ,means   
,a ,,bill  ,to amend title ,,ii of the  
,social ,security ,act to provide an    
option to claim a delayed retirement    
credit in a partial lump sum1 and for   
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,providing     
,choice for ,social ,security ,retirees 
,act4  #b4 ,option to claim delayed     
retirement credit in partial lump sum   
,section #bjb7w7 of the ,social         
,security ,act 7#db ,u4,s4,c4 #djb7w77  
is amended by adding at the end the     
following3  7#g7  7,a7 ,in any case in  
which an individual becomes entitled to 
an old-age insurance benefit in a       
calendar year after #bjah1 and such     
benefit is subject to a monthly increase
 under paragraph 7#a71 such individual  

may elect to receive1 in lieu of the    
monthly increase under paragraph 7#a7-- 
7i7 an alternate monthly increase as    
determined under subparagraph 7,e72 and 
7ii7 in addition to such monthly benefit
 as increased under clause 7i71 a       
one-time lump sum payment1 payable at   
the time of such individual's           
entitlement to such benefit1 equal to   
the sum of the present values 7as       
determined by the ,commissioner of      
,social ,security using reasonable      
assumptions7 of the applicable          
percentage 7determined under            
subparagraph 7,b77 of the amount of such
 monthly benefit 7as determined before  
the application of such increase7 for   
each month in the life expectancy period
 7determined under subparagraph 7,c774  
7,b7 ,the applicable percentage         
determined under this subparagraph is   
the percentage equal to the product of--
  7i7 #a_/f of #a percent1 multiplied by
  7ii7 the number 7if any7 of the       
increment months for such individual4   

7,c7 ,the life expectancy period        
determined under this subparagraph is1  
with respect to an individual1 the      
period-- 7i7 beginning with the month in
 which the individual becomes entitled  
to an old-age insurance benefit2 and    
7ii7 ending with the month before the   
last month of life expectancy 7as       
determined by the ,commissioner of      
,social ,security using reasonable      
actuarial assumptions7 for the cohort of
 individuals who become eligible for an 
old-age insurance benefit in the same   
month as the individual4  7,d7 ,the     
,commissioner of ,social ,security shall
 certify to the ,managing ,trustee of   
the ,federal ,old-,age and ,survivors   
,insurance ,trust ,fund the amount of   
any lump sum payment payable to an      
individual under subparagraph 7,a7 and1 
upon receipt of such certification1 the 
,managing ,trustee shall make payment of
 such lump sum payment to such          
individual from such ,trust ,fund4  7,e7
 ,an alternate monthly increase for an  

individual determined under this        
subparagraph shall be equal to the      
monthly increase for the individual that
 would be determined under paragraph    
7#a7 if such monthly increase were      
determined by substituting #a_/b for    
#b_/c in paragraph 7#f77;,d74  7,f7 7i7 
,for purposes of determining the amount 
of any benefit payable under this title 
on the basis of the wages and           
self-employment income of an individual 
who makes an election under this        
paragraph1 the amount of any such       
benefit shall be determined as if such  
individual's old-age benefit had been   
increased under paragraph 7#a7 without  
regard to this paragraph4  7ii7 ,for    
purposes of applying any reduction under
 subsection 7k77#c77;,a7 to the monthly 
insurance benefit of an individual who  
makes an election under this paragraph1 
the amount of such individual's old-age 
benefit shall be determined as if such  
old-age benefit had been increased under
 paragraph 7#a7 without regard to this  

paragraph4  4