Sec. 7. Establishment of an increased benefit for beneficiaries on account of long-term eligibility
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Section 202 of the Social Security Act ( 42 U.S.C. 402 ) is amended by adding at the end the following: In the case of an individual who is a qualified beneficiary for a calendar year after 2016, the amount of any monthly insurance benefit of such qualified beneficiary under this section or section 223 for any month in such calendar year shall be increased in accordance with paragraph (3). For purposes of this subsection, the term qualified beneficiary for a calendar year means an individual in any case in which such calendar year begins at least 20 years after the applicable date of eligibility for such individual.
For purposes of this subsection, the applicable date of eligibility for an individual is the date on which the individual initially became eligible for monthly insurance benefits under subsection
(a)or section 223. The increase required under paragraph
(1)with respect to the monthly insurance benefit of an individual who is a qualified beneficiary for a calendar year shall be equal to the applicable percentage (specified for such benefit in subparagraph (B)) of the full increase amount for such calendar year (determined under subparagraph (C)). The applicable percentage specified for a monthly insurance benefit under this subparagraph for a calendar year is the percentage specified, in connection with the number of years ending after the applicable date of eligibility for such individual and before such calendar year, in the following table: If the number of years is: The applicable percentage is: 20 20 percent 21 40 percent 22 60 percent 23 80 percent 24 or more 100 percent. Except as provided in clauses
(ii)and (iii), the full increase amount determined under this subparagraph for a calendar year in connection with the monthly insurance benefit of a qualified beneficiary is a dollar amount equal to 5 percent of the amount of the old-age insurance benefit that would apply to a hypothetical individual if— on January 1 of the calendar year in which occurred the applicable eligibility date with respect to such individual, such hypothetical individual were fully insured, attained retirement age (as defined in section 216(l)(2)) and were otherwise eligible for, and applied for, old-age insurance benefits; and such hypothetical individual had earnings equal to the national average wage index (as described in section 209(k)(1)) for each year beginning with the year in which the individual attained the age of 22 through the year in which the individual attained the age of 62. In the case of a monthly insurance benefit under subsection
(b)or (c), the full increase amount determined under this subparagraph shall be one-half the amount determined under clause (i). In the case of a monthly insurance benefit under subsection (d), (g), or (h), the full increase amount determined under this subparagraph shall be the percentage of the amount determined under clause
(i)equal to the ratio which the amount of such benefit bears to the primary insurance amount (before the application of section 203(a)) of the individual on whose wages and self-employment income the monthly insurance benefit is based. In the case of a qualified beneficiary who is entitled to two or more monthly insurance benefits under this title for the same month— the earliest applicable date of eligibility for such beneficiary with respect to such benefits shall be treated as the applicable date of eligibility for such beneficiary for the purposes of this subsection; and such beneficiary shall be entitled to an increase with respect only to one such benefit. This subsection shall be applied to monthly insurance benefits after any increase under subsection
(w)and any applicable reductions and deductions under this title. For purposes of this subsection, in the case of any individual who would otherwise have attained the status of a qualified beneficiary prior to January 1, 2017, such individual shall be treated as having attained such status on such date. . The amendments made by this section shall apply to benefits payable for months beginning after December 31, 2016.
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Sec. 7
Establishment of an increased benefit for beneficiaries on account of long-term eligibility
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