,,ii  #aafth ,,congress  #b;d ,session  
,s4 #cbcd  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,january #bh1  
#bjbj,mr4 ,paul introduced the following
 bill2 which was read twice and referred
 to the ,committee on ,finance  ,a      
,,bill  ,to adjust the normal and early 
retirement ages for receipt of benefits 
under the ,social ,security program1    
increase the maximum age for delayed    
retirement credit1 and provide for      
progressive price indexing of benefits4 
#a4 ,short title ,this ,act may be cited
 as the ,social ,security ,solvency and 
,sustainability ,act4  #b4 ,adjustment  
to normal and early retirement age      
,section #baf7l7 of the ,social         
,security ,act 7#db ,u4,s4,c4 #daf7l77  
is amended--  7#a7 in paragraph 7#a7--  
7,a7 in subparagraph 7,d71 by striking  
and at the end2  7,b7 in subparagraph   
7,e71 by striking the period at the end 
and inserting 2 and2 and  7,c7 by adding
 at the end the following new           
subparagraphs3  7,f7 with respect to an 

individual who--  7i7 attains #fb years 
of age after ,december #ca1 #bjbi1 and  
before ,january #a1 #bjcg1 such         
individual's early retirement age 7as   
determined under paragraph              
7#b77;,a77ii77 plus #fj months2 or  7ii7
 receives a benefit described in        
paragraph 7#b77;,b7 and attains #fj     
years of age after ,december #ca1 #bjbi1
 and before ,january #a1 #bjcg1 #fg     
years plus the number of months in the  
age increase factor 7as determined under
 paragraph 7#e77;,a77 for the calendar  
year in which such individual attains   
#fj years of age2  7,g7 with respect to 
an individual who--  7i7 attains #fb    
years of age after ,december #ca1 #bjcf1
 and before ,january #a1 #bjch1 #fi     
years of age2 or  7ii7 receives a       
benefit described in paragraph 7#b77;,b7
 and attains #fj years of age after     
,december #ca1 #bjcf1 and before        
,january #a1 #bjch1 #fi years of age2   
7,h7 with respect to an individual who--
  7i7 attains #fb years of age after    

,december #ca1 #bjcg1 and before        
,january #a1 #bjda1 #fg years of age    
plus the number of months in the age    
increase factor 7as determined under    
paragraph 7#e77;,b772 or  7ii7 receives 
a benefit described in paragraph        
7#b77;,b7 and attains #fj years of age  
after ,december #ca1 #bjcg1 and before  
,january #a1 #bjda1 #fg years of age    
plus the number of months in the age    
increase factor 7as determined under    
paragraph 7#e77;,a772  7,i7 with respect
 to an individual who--  7i7 attains #fb
 years of age after ,december #ca1      
#bjdj1 and before ,january #a1 #bjdb1   
#gj years of age2 or  7ii7 receives a   
benefit described in paragraph 7#b77;,b7
 and attains #fj years of age after     
,december #ca1 #bjdj1 and before        
,january #a1 #bjdb1 #gj years of age2   
and  7,j7 with respect to an individual 
who--  7i7 attains #fb years of age     
after ,december #ca1 #bjda1 #gj years of
 age plus the number of months in the   
age increase factor 7as determined under

 paragraph 7#f772 or  7ii7 receives a   
benefit described in paragraph 7#b77;,b7
 and attains #fj years of age after     
,december #ca1 #bjda1 #gj years of age  
plus the number of months in the age    
increase factor 7as determined under    
paragraph 7#f774  2  7#b7 by amending   
paragraph 7#b7 to read as follows3  7#b7
 ,the term early retirement age means-- 
7,a7 in the case of an old-age1 wife's1 
or husband's insurance benefit--  7i7   
#fb years of age with respect to an     
individual who attains such age before  
,january #a1 #bjcj2  7ii7 with respect  
to an individual who attains #fb years  
of age after ,december #ca1 #bjbi1 and  
before ,january #a1 #bjcg1 #fb years of 
age plus the number of months in the age
 increase factor 7as determined under   
paragraph 7#d77 for the calendar year in
 which such individual attains #fb years
 of age2 and  7iii7 with respect to an  
individual who attains age #fb after    
,december #ca1 #bjcf1 #fd years of age2 
or  7,b7 in the case of a widow's or    

widower's insurance benefit1 #fj years  
of age4  2 and  7#c7 by adding at the   
end the following new paragraphs3  7#d7 
,for purposes of paragraph              
7#b77;,a77ii71 the age increase factor  
shall be equal to three-twelfths of the 
number of months in the period beginning
 with ,january #bjcj and ending with    
,december of the year in which the      
individual attains #fb years of age4    
7#e7 ,the age increase factor shall be  
equal to three-twelfths of the number of
 months in the period beginning with    
,january #bjcj and ending with ,december
 of the year in which--  7,a7 for       
purposes of paragraphs 7#a77;,f77ii7 and
 7#a77;,h77ii71 the individual attains  
#fj years of age2 or  7,b7 for purposes 
of paragraph 7#a77;,h77i71 the          
individual attains #fb years of age4    
7#f7 ,the ,commissioner of ,social      
,security shall determine 7using        
reasonable actuarial assumptions7 and   
publish on or before ,november #a of    
each calendar year after #bjdj the      

number of months 7rounded1 if not a     
multiple of one month1 to the next lower
 multiple of one month7 by which life   
expectancy as of ,october #a of such    
calendar year of an individual attaining
 early retirement age on such ,october  
#a exceeds the life expectancy as of    
,october #a1 #bjda1 of an individual    
attaining early retirement age on       
,october #a1 #bjda4 ,with respect to an 
individual who attains early retirement 
in the calendar year following any      
calendar year in which a determination  
is made under this paragraph1 the age   
increase factor shall be the number of  
months determined under this paragraph  
as of ,october #a of such calendar year 
in which such determination is made4  4 
#c4 ,increase in ,maximum ,age for      
,delayed ,retirement ,credit  7a7 ,in   
general ,subsection 7w7 of section #bjb 
of the ,social ,security ,act 7#db      
,u4,s4,c4 #djb7 is amended--  7#a7 in   
paragraphs 7#b77;,a7 and 7#c71 by       
striking age #gj each place it appears  

and inserting the maximum delayed       
retirement age 7as determined pursuant  
to paragraph 7#g772  7#b7 by adding at  
the end the following new paragraph3    
7#g7 ,for purposes of paragraphs        
7#b77;,a7 and 7#c71 the maximum delayed 
retirement age shall be equal to--  7,a7
 during the period before ,january #a1  
#bjcj1 #gj years of age for an          
individual who has attained early       
retirement age 7as determined under     
section #baf7l77#b77 during such period2
 and  7,b7 during the period after      
,december #ca1 #bjbi1 the sum of--  7i7 
the retirement age for such calendar    
year1 as determined under section       
#baf7l77#a71 for an individual who has  
attained age #fb 7for purposes of       
section #baf7l77#b77;,a77 or who has    
attained age #fj 7for purposes of       
section #baf7l77#b77;,b77 during such   
calendar year2 and  7ii7 #c years4  4   
7b7 ,effective date ,the amendment made 
by subsection 7a7 shall take effect on  
,january #a1 #bjcj4  #d4 ,progressive   

indexing of benefits for old-age1       
wife's1 and husband's insurance benefits
  7a7 ,in general ,section #bae7;a7 of  
the ,social ,security ,act 7#db         
,u4,s4,c4 #dae7;a77 is amended--  7#a7  
by striking ,the in paragraph 7#a77;,a7 
and inserting ,in the case of any       
benefit other than an applicable benefit
 to which paragraph 7#b7 applies1 the2  
and  7#b7 by redesignating paragraphs   
7#b7 through 7#g7 as paragraphs 7#c7    
through 7#h71 respectively1 and by      
inserting after paragraph 7#a7 the      
following new paragraph3  7#b7 7,a7 ,in 
the case of an applicable benefit with  
respect to any individual who initially 
becomes eligible for old-age insurance  
benefits or who dies 7before becoming   
eligible for such benefits7 in calendar 
year #bjbg or later1 the primary        
insurance amount of the individual shall
 be equal to the sum of--  7i7 #ij      
percent of the individual's average     
indexed monthly earning 7determined     
under subsection 7b77 to the extent that

 such earnings do not exceed the amount 
established for purposes of paragraph   
7#a77;,a77i7 by paragraph 7#a77;,b72    
7ii7 #cb percent of the individual's    
average indexed monthly earnings to the 
extent that such earnings exceed the    
amount established for purposes of      
paragraph 7#a77;,a77i7 by paragraph     
7#a77;,b7 but do not exceed the amount  
established for purposes of this clause 
by subparagraph 7,b72  7iii7 #cb percent
 7reduced as provided in subparagraph   
7,c77 of the individual's average       
indexed monthly earnings to the extent  
that such earnings exceed the amount    
established for purposes of clause 7ii7 
but do not exceed the amount established
 for purposes of paragraph 7#a77;,a77ii7
 by paragraph 7#a77;,b72 and  7iv7 #ae  
percent 7reduced as provided in         
subparagraph 7,c77 of the individual's  
average indexed monthly earnings to the 
extent that such earnings exceed the    
amount established for purposes of      
paragraph 7#a77;,a77ii7 by paragraph    

7#a77;,b74  7,b7 7i7 ,for purposes of   
subparagraph 7,a77ii71 the amount       
established under this subparagraph for 
calendar year #bjbe shall be the level  
of average indexed monthly earnings     
determined by the ,chief ,actuary of the
 ,social ,security ,administration under
 clause 7ii7 as being at the #djth      
percentile for the period of calendar   
years #bjaf through #bjah4  7ii7 ,for   
purposes of clause 7i71 the average     
indexed monthly earnings for the period 
of calendar years #bjaf through #bjah   
shall be determined by--  7,i7          
determining the average indexed monthly 
earnings for each individual who        
initially became eligible for old-age   
insurance benefits or who died 7before  
becoming eligible for such benefits7    
during such period1 except that in      
determining such average indexed monthly
 earnings under subsection 7b71         
subsection 7b77#c77;,a77ii77,i7 shall be
 applied by substituting calendar year  
#bjac for the second calendar year      

described in such subsection2 and       
7,,ii7 multiplying the amount determined
 for each individual under subclause    
7,i7 by the quotient obtained by        
dividing the national average wage index
 7as defined in section #bji7k77#a77 for
 the calendar year #bjbe by such index  
for the calendar year #bjac4  7iii7 ,for
 purposes of subparagraph 7,a77ii71 the 
amount established under this           
subparagraph for any calendar year after
 #bjbg shall be equal to the product of 
the amount in effect under clause 7i7   
with respect to calendar year #bjbg and 
the quotient obtained by dividing--     
7,i7 the national average wage index 7as
 defined in section #bji7k77#a77 for the
 second calendar year preceding the     
calendar year for which the             
determination is being made2 by  7,,ii7 
the national average wage index 7as so  
defined7 for #bjbe4  7iv7 ,the amount   
established under this subparagraph for 
any calendar year shall be rounded to   
the nearest #a1 except that any amount  

so established which is a multiple of   
#j4ej but not of #a shall be rounded to 
the next higher #a4  7,c7 7i7 ,except as
 provided in clause 7ii71 in the case of
 any calendar year after #bjbf1 each of 
the percentages to which this           
subparagraph applies by reason of       
clauses 7iii7 or 7iv7 of subparagraph   
7,a7 shall be a percentage equal to such
 percentage multiplied by the quotient  
obtained by dividing--  7,i7 the        
difference of the maximum ,,cpi-indexed 
benefit amount for such year over the   
amount determined under this paragraph  
for an individual whose average indexed 
monthly earnings are equal to the amount
 established for purposes of            
subparagraph 7,a77ii7 for such year2 by 
7,,ii7 the difference of the maximum    
wage-indexed benefit amount for such    
year over the amount determined under   
this paragraph for an individual whose  
average indexed monthly earnings are    
equal to the amount established for     
purposes of subparagraph 7,a77ii7 for   

such year4  7ii7 ,in the case of any    
calendar year after #bjfd1 clause 7i7   
shall not apply and each of the         
percentages to which this subparagraph  
applies by reason of clause 7iii7 or    
7iv7 of subparagraph 7,a7 shall be a    
percentage equal to the percentage      
determined under this subparagraph for  
the preceding year 7determined after the
 application of this subparagraph74     
7iii7 ,for purposes of clause 7i71 the  
maximum wage-indexed benefit amount for 
any calendar year shall be equal to the 
amount determined under this paragraph  
7determined without regard to any       
reduction under this subparagraph7 for  
an individual with wages paid in and    
self-employment income credited to each 
computation base year in an amount equal
 to the contribution and benefit base   
for each calendar year4  7iv7 ,for      
purposes of clause 7i71 the maximum     
,,cpi-indexed benefit amount for any    
calendar year shall be an amount equal  
to the amount determined under clause   

7iii7 for such year multiplied by a     
fraction--  7,i7 the numerator of which 
is the ratio 7rounded to the nearest    
one-thousandth of #a percent7 of the    
,consumer ,price ,index for the second  
preceding year to such index for #bjbd2 
and  7,,ii7 the denominator of which is 
the ratio 7rounded to the nearest       
one-thousandth of #a percent7 of the    
national wage index 7as defined in      
section #bji7k77#a77 for the second year
 preceding such year to such index for  
#bjbd4  7,d7 ,for purposes of this      
paragraph1 rules similar to the rules of
 subparagraphs 7,c7 and 7,d7 of         
paragraph 7#a7 shall apply4  7,e7 ,for  
purposes of this paragraph1 the term    
applicable benefit means any benefit    
under section #bjb other than--  7i7 a  
child's insurance benefit under section 
#bjb7;d7 with respect to a child of an  
individual who has died2 and  7ii7 a    
mother's and father's insurance benefit 
under section #bjb7;g74  4  7b7         
,treatment of disabled beneficiaries    

,section #bae7;a7 of such ,act 7as      
amended by subsection 7a77 is amended   
further by adding at the end the        
following new paragraph3  7#i7 7,a7     
,notwithstanding the preceding          
provisions of this subsection1 in the   
case of an individual who has or has had
 a period of disability and who         
initially becomes eligible for old-age  
insurance benefits or who dies 7before  
becoming eligible for such benefits7 in 
any calendar year in or after #bjbg1 the
 primary insurance amount of such       
individual shall be the sum of--  7i7   
the amount determined under subparagraph
 7,b72 and  7ii7 the product derived by 
multiplying--  7,i7 the excess of the   
amount determined under subparagraph    
7,c7 over the amount determined under   
subparagraph 7,b72 by  7,,ii7 the       
adjustment factor for such individual   
determined under subparagraph 7,d74     
7,b7 ,the amount determined under this  
subparagraph is the amount of such      
individual's primary insurance amount as

 determined under this section without  
regard to this paragraph4  7,c7 ,the    
amount determined under this            
subparagraph is the amount of such      
individual's primary insurance amount as
 determined under this section as in    
effect with respect to individuals      
becoming eligible for old-age or        
disability insurance benefits under     
section #bjb7;a7 on the date of the     
enactment of the ,social ,security      
,solvency and ,sustainability ,act4     
7,d7 ,the adjustment factor determined  
under this subparagraph for any         
individual is the ratio 7not greater    
than #a7 of--  7i7 the total number of  
months during which such individual is  
under a disability 7as defined in       
section #bbc7;d77 during the period     
beginning on the date the individual    
attains age #bb and ending on the first 
day of such individual's first month of 
eligibility for old-age insurance       
benefits under section #bjb7;a7 7or1 if 
earlier1 the month of such individual's 

death72 to  7ii7 the number of months   
during the period beginning on the date 
the individual attains age #bb and      
ending on the first day of such         
individual's first month of eligibility 
for old-age insurance benefits under    
section #bjb7;a7 7or1 if earlier1 the   
month of such individual's death74  4   
7c7 ,conforming amendments  7#a7        
,subsections 7e77#b77;,b77i77,i7 and    
7f77#b77;,b77i77,i7 of section #bjb of  
the ,social ,security ,act are each     
amended by inserting or section         
#bae7;a77#b77;,b77iii7 after section    
#bae7;a77#a77;,b77i7 and 7ii74  7#b7    
,section #bjc7;a77#aj7 of such ,act is  
amended--  7,a7 in subparagraph 7,a77i71
 by striking #bae7;a77#b77;,b77i7 and   
inserting #bae7;a77#c77;,b77i72  7,b7 in
 subparagraph 7,a77ii71 by striking     
#bae7;a77#b77;,c7 and inserting         
#bae7;a77#c77;,c72 and  7,c7 in         
subparagraph 7,b77ii71 by striking      
#bae7;a77#b7 and inserting #bae7;a77#c74
  7#c7 ,section #bji7k77#a7 of such ,act

 is amended by inserting                
#bae7;a77#b77;,b71 #bae7;a77#b77;,c71   
after #bae7;a77#a77;,d714  7#d7 ,section
 #bae7;a7 of such ,act is amended--     
7,a7 in paragraph 7#d77;,a71 as         
redesignated by subsection 7a77#b71 by  
striking paragraph 7#d7 and inserting   
paragraph 7#e72  7,b7 in paragraph      
7#d77;,b71 as redesignated by subsection
 7a77#b71 by striking paragraph         
7#b77;,a7 and inserting paragraph       
7#c77;,a72  7,c7 in paragraph 7#e71 as  
redesignated by subsection 7a77#b71 by  
striking paragraph 7#c77;,a7 and        
inserting paragraph 7#d77;,a72  7,d7 in 
paragraph 7#f77;,a71 as redesignated by 
subsection 7a77#b71 by striking         
paragraph 7#d77;,b7 and inserting       
paragraph 7#e77;,b72 and  7,e7 in       
paragraph 7#h77;,b77ii77,i71 as         
redesignated by subsection 7a77#b71 by  
striking paragraph 7#c77;,b7 and        
inserting paragraph 7#d77;,b74  7#e7    
,section #bae7;d77#c7 of such ,act is   
amended--  7,a7 by striking paragraph   

7#d77;,b77ii7 and inserting paragraph   
7#e77;,b77ii72 and  7,b7 by striking    
subsection 7a77#g77;,c7 and inserting   
subsection 7a77#h77;,c74  7#f7          
,subsection #bae7;f7 of such ,act is    
amended--  7,a7 in paragraph 7#b77;,b71 
by striking subsection 7a77#d77;,b7 and 
inserting subsection 7a77#e77;,b72  7,b7
 in paragraph 7#g71 by striking         
subsection 7a77#d77;,b7 and inserting   
subsection 7a77#e77;,b71 and by striking
 subsection 7a77#f7 and inserting       
subsection 7a77#g72  7,c7 in paragraph  
7#i77;,a7--  7i7 by striking subsection 
7a77#g77;,a7 and inserting subsection   
7a77#h77;,a72 and  7ii7 by striking     
subsection 7a77#g77;,c7 and inserting   
subsection 7a77#h77;,c72 and  7,d7 in   
paragraph 7#i77;,b71 by striking        
subsection 7a77#g7 each place it appears
 and inserting subsection 7a77#h74