,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #caab  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #bi1 #bjag,mr4  
,sam ,johnson ( ,texas 7= himself & ,mr4
 ,smi? ( ,nebraska7 introduc$ ! foll[+  
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means  ,a ,,bill  ,to am5d     
title ,,ii ( ! ,social ,security ,act to
 provide an option to claim a delay$    
retirem5t cr$it 9 a p>tial lump sum1 & =
 o!r purposes4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,provid+ ,*oice =  
,social ,security ,retirees ,act4  #b4  
,option to claim delay$ retirem5t cr$it 
9 p>tial lump sum ,section #bjb7w7 ( !  
,social ,security ,act 7#db ,u4,s4,c4   
#djb7w77 is am5d$ by add+ at ! end !    
foll[+3  7#g7  7,a7 ,9 any case 9 :i* an
 individual becomes entitl$ to an       
old-age insurance b5efit 9 a cal5d> ye> 
aft] #bjah1 & su* b5efit is subject to a
 mon?ly increase "u p>agraph 7#a71 su*  
individual may elect to receive1 9 lieu 
( ! mon?ly increase "u p>agraph 7#a7--  
7i7 an alt]nate mon?ly increase z       

det]m9$ "u subp>agraph 7,e72 &  7ii7 9  
addition to su* mon?ly b5efit z increas$
 "u clause 7i71 a "o-"t lump sum paym5t1
 payable at ! "t ( su* individual's     
entitlem5t to su* b5efit1 equal to ! sum
 ( ! pres5t values 7z det]m9$ by !      
,commission] ( ,social ,security us+    
reasonable assumptions7 ( ! applicable  
p]c5tage 7det]m9$ "u subp>agraph 7,b77 (
 ! am\nt ( su* mon?ly b5efit 7z det]m9$ 
be=e ! application ( su* increase7 = ea*
 mon? 9 ! life expectancy p]iod 7det]m9$
 "u subp>agraph 7,c774  7,b7 ,!         
applicable p]c5tage det]m9$ "u ?is      
subp>agraph is ! p]c5tage equal to !    
product (--  7i7 #a_/f ( #a p]c5t1      
multipli$ by  7ii7 ! numb] 7if any7 ( ! 
increm5t mon?s = su* individual4  7,c7  
,! life expectancy p]iod det]m9$ "u ?is 
subp>agraph is1 ) respect to an         
individual1 ! p]iod-- 7i7 beg9n+ ) !    
mon? 9 :i* ! individual becomes entitl$ 
to an old-age insurance b5efit2 &  7ii7 
end+ ) ! mon? be=e ! la/ mon? ( life    
expectancy 7z det]m9$ by ! ,commission] 

( ,social ,security us+ reasonable      
actu>ial assumptions7 = ! cohort (      
individuals :o become eligible = an     
old-age insurance b5efit 9 ! same mon? z
 ! individual4  7,d7 ,! ,commission] (  
,social ,security %all c]tify to !      
,manag+ ,tru/ee ( ! ,f$]al ,old-,age &  
,survivors ,insurance ,tru/ ,fund !     
am\nt ( any lump sum paym5t payable to  
an individual "u subp>agraph 7,a7 &1 ^u 
receipt ( su* c]tification1 ! ,manag+   
,tru/ee %all make paym5t ( su* lump sum 
paym5t to su* individual f su* ,tru/    
,fund4  7,e7 ,an alt]nate mon?ly        
increase = an individual det]m9$ "u ?is 
subp>agraph %all be equal to ! mon?ly   
increase = ! individual t w\ld be       
det]m9$ "u p>agraph 7#a7 if su* mon?ly  
increase 7 det]m9$ by sub/itut+ #a_/b = 
#b_/c 9 p>agraph 7#f77;,d74  7,f7 7i7 ,=
 purposes ( det]m9+ ! am\nt ( any b5efit
 payable "u ?is title on ! basis ( !    
wages & self-employm5t income ( an      
individual :o makes an election "u ?is  
p>agraph1 ! am\nt ( any su* b5efit %all 

be det]m9$ z if su* individual's old-age
 b5efit _h be5 increas$ "u p>agraph 7#a7
 )\t reg>d to ?is p>agraph4  7ii7 ,=    
purposes ( apply+ any r$uction "u       
subsection 7k77#c77;,a7 to ! mon?ly     
insurance b5efit ( an individual :o     
makes an election "u ?is p>agraph1 !    
am\nt ( su* individual's old-age b5efit 
%all be det]m9$ z if su* old-age b5efit 
_h be5 increas$ "u p>agraph 7#a7 )\t    
reg>d to ?is p>agraph4  4