Sec. 6. Minimum social security benefit
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Section 215 of the Social Security Act ( 42 U.S.C. 415 ) is amended by adding at the end the following: Notwithstanding the preceding provisions of this section— subject to paragraphs (4), (8), and (9), the primary insurance amount of any individual who is credited with greater than 10 years of coverage and who initially becomes eligible for old-age or disability insurance benefits or dies (before becoming eligible for such benefits) for a month beginning after December 31, 2016 (in this subsection referred to as a qualified individual ), shall be equal to the greater of— the primary insurance amount determined under this section (without regard to this subsection), or the minimum monthly insurance benefit determined under paragraph (2), and any recomputation of the primary insurance amount of a qualified individual shall not result in a primary insurance amount less than the primary insurance amount as in effect immediately prior to such recomputation.
For purposes of this subsection, the term minimum monthly insurance benefit means 1/12 of the applicable percentage of the adjusted minimum benefit level (as defined in paragraph (6)). For purposes of this subsection, subject to paragraph (4), the applicable percentage shall be equal to— for a qualified individual who has 20 years of coverage or less, 100 percent reduced by 10 percentage points for each year of coverage less than 20; for a qualified individual who has more than 20 years of coverage but less than 40 years of coverage, 125 percent reduced by 1.25 percentage points for each year of coverage less than 40; and for a qualified individual who has 40 years of coverage or greater, 125 percent.
In the case of an individual who initially becomes eligible for disability insurance benefits under section 223 before attaining age 62, or who dies before attaining age 62, in a month beginning after December 31, 2016, and who is credited with at least 5 years of coverage, the individual shall be treated as a qualified individual and the applicable percentage shall be 125 reduced by the number of percentage points determined under subparagraph
(B)for each year of coverage of the qualified individual less than the number as determined under subparagraph (C). The number of percentage points under this subparagraph shall be determined by— dividing the number of the qualifying individual’s elapsed years (as defined in subsection (b)(2)(B)(iii)) by 40; multiplying the result under clause
(i)by 20; and dividing 125 by the result under clause
(ii)and rounding to the nearest one hundredth of 1 percentage point. The number of years of coverage under this subparagraph shall be determined by multiplying the ratio determined under subparagraph (B)(i) by 30 and rounding to the next lower whole number. For purposes of this subsection, a year of coverage is a calendar year for which an individual is credited with 4 quarters of coverage. For purposes of this subsection— for individuals who initially become eligible for old-age or disability insurance benefits or die (before becoming eligible for such benefits) in either 2017 or 2018, the term adjusted minimum benefit level means the product of— the weighted average of the Federal poverty threshold applicable to a family of 1 for the year before such year (as determined by the Bureau of the Census); and the applicable phase-in factor for such calendar year (as determined under paragraph (7)); and for individuals who initially become eligible for old-age or disability insurance benefits or die (before becoming eligible for such benefits) in a year after 2018, the term adjusted minimum benefit level means the product of— the amount determined under subparagraph
(A)for calendar year 2018, multiplied by the quotient described in subsection (b)(3)(A)(ii), except that the reference to the computation base year for which the determination is made in such subsection shall be deemed instead to be a reference to 2016 ; and the applicable phase-in factor for such calendar year (as determined under paragraph (7)). For purposes of paragraph (6), the applicable phase-in factor shall be equal to— for calendar year 2017, 40 percent; for each calendar year during the period between 2018 through 2022, the applicable phase-in factor under this paragraph for the preceding year increased by 10 percentage points; and for calendar year 2023 and each succeeding year, 100 percent. The amount of the minimum monthly insurance benefit of any individual under this subsection shall be reduced (but not below zero) by an amount equal to any periodic benefit payable to such individual for such month under a pension, annuity, retirement, or similar fund or system which is based upon such individual's earnings for any service described in paragraphs
(1)through
(21)of section 210(a). The provisions of this subsection shall not apply in the case of an individual— whose primary insurance amount would otherwise be computed under subsection (a)(7); or whose wife's insurance benefit or husband's insurance benefit under subsection
(b)or
(c)of section 202 is determined pursuant to subsection (b)(2)(A)(i)(II) or (c)(2)(A)(i)(II) of such section. . Section 202(a) of such Act ( 42 U.S.C. 402(a) ) is amended in the last sentence by striking section 215(a) and inserting section 215 .
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