Sec. 2. Increase in special minimum benefit for lifetime low earners based on years in the workforce
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Section 215(a)(1)(C) of the Social Security Act ( 42 U.S.C. 415(a)(1)(C) ) is amended to read as follows: Effective with respect to the benefits of individuals who become eligible for old-age insurance benefits or disability insurance benefits (or die before becoming so eligible) after 2014, no primary insurance amount computed under subparagraph
(A)may be less than the applicable percentage of 1/12 of the annual dollar amount determined under clause
(iv)for the year in which the amount is determined. For purposes of clause (i), the applicable percentage is the percentage specified in connection with the number of years of work, as set forth in the following table: If the number of years The applicable of work is: percentage is: 11 36.7 percent 12 40.0 percent 13 43.3 percent 14 46.7 percent 15 50.0 percent 16 53.3 percent 17 56.7 percent 18 60.0 percent 19 63.3 percent 20 66.7 percent 21 70.0 percent 22 73.3 percent 23 76.7 percent 24 80.0 percent 25 83.3 percent 26 86.7 percent 27 90.0 percent 28 93.3 percent 29 96.7 percent 30 or more 100.0 percent. For purposes of this subparagraph, the term number of years of work means, with respect to an individual, the sum of— 1/4 of the total number of quarters of coverage credited to such individual (disregarding any fraction); and the number of years (not exceeding 5) in all of which the individual provided care for a child under 6 years of age who resided in the individual’s home. The annual dollar amount determined under this clause is the poverty guideline for the calendar year preceding the calendar year in which the determination is made. For purposes of this clause, the term poverty guideline means the annual poverty guideline (as updated annually in the Federal Register by the Department of Health and Human Services under the authority of section 673(2) of the Omnibus Budget Reconciliation Act of 1981) as applicable to a single individual. .
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Sec. 2
Increase in special minimum benefit for lifetime low earners based on years in the workforce
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