3.0.0 3112 2023-01-11T13:37:43Z 2023-01-11T13:37:43Z House HR 2017-06-29 115 [Congressional Record Volume 163, Number 112 (Thursday, June 29, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SAM JOHNSON of Texas:H.R. 3112.Congress has the power to enact this legislation pursuantto the following:Clause 1 of section 8 of article I of the Constitution, to``provide for the common defense and general welfare of theUnited States.''[Page H5377]]]> hswm00 Ways and Means Committee House Standing hswm01 Social Security Subcommittee Referred to 2017-07-17T19:49:18Z Referred to 2017-06-29T14:04:25Z 2017-07-17 hswm01 Social Security Subcommittee 1 House committee actions Referred to the Subcommittee on Social Security. Committee 2017-06-29 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-06-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-06-29 Introduced in House IntroReferral 1000 9 Library of Congress J000174 Rep. Johnson, Sam [R-TX-3] SAM JOHNSON R TX 3 N S001172 Rep. Smith, Adrian [R-NE-3] Adrian Smith R NE 3 2017-06-29 True Social Welfare Social security and elderly assistance Social Welfare 00 2017-06-29 Introduced in House 2018-02-09T17:03:51Z Providing Choice for Social Security Retirees Act

This bill amends title II (Old Age, Survivors, and Disability Insurance) (OASDI) of the Social Security Act to allow an individual who is entitled to OASDI benefits to claim a delayed-retirement credit in a partial lump sum.

Under current law, an individual's OASDI benefits are increased by a two-thirds of 1% for each month in which the individual, after attaining full retirement age but prior to attaining age 70, delays claiming those benefits. The bill allows an individual who delays claiming OASDI benefits to instead opt to receive a smaller percentage increase (one-half of 1%) for each applicable month, plus a one-time lump sum payable at the time of the individual's entitlement to the benefits. The amount of this lump sum shall equal the sum of the present values of one-sixth of 1% of the amount of the individual's monthly benefits for each month in the individual's life-expectancy period.

]]> Providing Choice for Social Security Retirees Act Display Title Providing Choice for Social Security Retirees Act Official Title as Introduced To amend title II of the Social Security Act to provide an option to claim a delayed retirement credit in a partial lump sum, and for other purposes. Introduced in House IH Short Titles as Introduced Providing Choice for Social Security Retirees Act Introduced in House 2017-06-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr3112ih/xml/BILLS-115hr3112ih.xml 2017-07-17 Referred to the Subcommittee on Social Security. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.