S. 5178 — Introduced in Senate

II 118th CONGRESS 2d Session S. 5178 IN THE SENATE OF THE UNITED STATES September 25, 2024Mr. Welch (for himself, Ms. Warren, and Mr. Sanders) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend title II of the Social Security Act to update the amount of Social Security lump sum death payments and index lump sum death payments to inflation. 1. Short title This Act may be cited as the Social Security Survivor Benefits Equity Act. 2. Updating and indexing the amount of the Social Security lump sum death payment (a) In general Section 202(i) of the Social Security Act (42 U.S.C. 402(i)) is amended, in the matter preceding paragraph (1), by striking three times and all that follows through smaller, and inserting $2,900 (or, in the case of such an insured individual who dies in a calendar year after 2025, an amount equal to $2,900 increased by the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers for the period that begins with October 2024 and ends with October of the calendar year preceding the calendar year involved and rounded to the nearest multiple of $10). (b) Effective date The amendment made by this section shall take effect on January 1, 2025, and shall apply to lump sum death payments payable under section 202(i) of the Social Security Act (42 U.S.C. 402(i)) with respect to individuals who die on or after such date.