[Congressional Record Volume 157, Number 87 (Thursday, June 16, 2011)]
[Senate]
[Pages S3893-S3894]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mrs. HUTCHISON (for herself and Mr. Kyl):
  S. 1213. A bill to amend title II of the Social Security Act to 
extend the solvency of the Social Security Trust Funds by increasing 
the normal and early retirement ages under the Social Security program 
and modifying the cost-of-living adjustments in benefits; to the 
Committee on Finance.
  Mrs. HUTCHISON. Mr. President, I ask unanimous consent that the text 
of the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 1213

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Defend and Save Social 
     Security Act''.

     SEC. 2. ADJUSTMENT TO NORMAL AND EARLY RETIREMENT AGE.

       (a) In General.--Section 216(l) of the Social Security Act 
     (42 U.S.C. 416(l)) is amended--
       (1) in paragraph (1)--
       (A) in subparagraph (C), by striking ``2017'' and inserting 
     ``2016''; and
       (B) by striking subparagraphs (D) and (E) and inserting the 
     following new subparagraphs:
       ``(D) with respect to an individual who--
       ``(i) attains 62 years of age after December 31, 2015, and 
     before January 1, 2024, such individual's early retirement 
     age (as determined under paragraph (2)(A)) plus 48 months; or
       ``(ii) receives a benefit described in paragraph (2)(B) and 
     attains 60 years of age after December 31, 2015, and before 
     January 1, 2024, 66 years of age plus the number of months in 
     the age increase factor (as determined under paragraph 
     (4)(A)(i));
       ``(E) with respect to an individual who--
       ``(i) attains 62 years of age after December 31, 2023, and 
     before January 1, 2027, 68 years of age plus the number of 
     months in the age increase factor (as determined under 
     paragraph (4)(B)(ii)); or
       ``(ii) receives a benefit described in paragraph (2)(B) and 
     attains 60 years of age after December 31, 2023, and before 
     January 1, 2027, 68 years of age plus the number of months in 
     the age increase factor (as determined under paragraph 
     (4)(B)(i)); and
       ``(F) with respect to an individual who--
       ``(i) attains 62 years of age after December 31, 2026, 69 
     years of age; or
       ``(ii) receives a benefit described in paragraph (2)(B) and 
     attains 60 years of age after December 31, 2026, 69 years of 
     age.'';
       (2) by amending paragraph (2) to read as follows:
       ``(2) The term `early retirement age' means--
       ``(A) in the case of an old-age, wife's, or husband's 
     insurance benefit--
       ``(i) 62 years of age with respect to an individual who 
     attains such age before January 1, 2016;
       ``(ii) with respect to an individual who attains 62 years 
     of age after December 31, 2015, and before January 1, 2023, 
     62 years of age plus the number of months in the age increase 
     factor (as determined under paragraph (4)(A)(ii)) for the 
     calendar year in which such individual attains 62 years of 
     age; and
       ``(iii) with respect to an individual who attains age 62 
     after December 31, 2022, 64 years of age; or
       ``(B) in the case of a widow's or widower's insurance 
     benefit, 60 years of age.'';
       (3) by striking paragraph (3) and inserting the following:
       ``(3) With respect to an individual who attains early 
     retirement age in the 5-year period consisting of the 
     calendar years 2000 through 2004, the age increase factor 
     shall be equal to two-twelfths of the number of months in the 
     period beginning with January 2000 and ending with December 
     of the year in which the individual attains early retirement 
     age.''; and
       (4) by adding at the end the following new paragraph:
       ``(4) The age increase factor shall be equal to three-
     twelfths of the number of months in the period--
       ``(A) beginning with January 2016 and ending with December 
     of the year in which--
       ``(i) for purposes of paragraphs (1)(D)(ii), the individual 
     attains 60 years of age; or
       ``(ii) for purposes of paragraph (2)(A)(ii), the individual 
     attains 62 years of age; and
       ``(B) beginning with January 2024 and ending with December 
     of the year in which--
       ``(i) for purposes of (1)(E)(ii), the individual attains 60 
     years of age; or
       ``(ii) for purposes of (1)(E)(i), the individual attains 62 
     years of age.''.
       (b) Conforming Increase in Number of Elapsed Years for 
     Purposes of Determining Primary Insurance Amount.--Section 
     215(b)(2)(B)(iii) of such Act (42 U.S.C. 415(b)(2)(B)(iii)) 
     is amended by striking ``age 62'' and inserting ``early 
     retirement age (or, in the case of an individual who receives 
     a benefit described in section 216(l)(2)(B), 62 years of 
     age)''.

     SEC. 3. COST-OF-LIVING ADJUSTMENT.

       Section 215(i) of the Social Security Act (42 U.S.C. 
     415(i)) is amended--
       (1) in paragraph (1)(D), by inserting ``subject to 
     paragraph (6),'' before ``the term''; and
       (2) by adding at the end the following new paragraph:
       ``(6)(A) Subject to subparagraph (B), with respect to a 
     base quarter or cost-of-living computation quarter in any 
     calendar year after 2010, the term `CPI increase percentage' 
     means the percentage determined under paragraph (1)(D) for 
     the quarter reduced (but not below zero) by 1 percentage 
     point.
       ``(B) The reduction under subparagraph (A) shall apply only 
     for purposes of determining the amount of benefits under this 
     title and not for purposes of determining the amount of, or 
     any increases in, benefits under other

[[Page S3894]]

     provisions of law which operate by reference to increases in 
     benefits under this title.''.
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