Senior Citizens’ Freedom to Work Act of 2023
- Last Action
- 12/17/2024
Actions
- 2024-12-17Referred to the Subcommittee on Social Security.
- 2023-08-11Referred to the House Committee on Ways and Means.
- 2023-08-11Introduced in House
- 2023-08-11Introduced in House
CRS Summary
As of 2023-08-11 (00)
Senior Citizens' Freedom to Work Act of 2023
This bill eliminates provisions that reduce Social Security retirement benefits for certain beneficiaries who are younger than full retirement age and who have outside income above a certain threshold, also known as the Retirement Earnings Test (RET).
Under the RET, benefits are reduced for beneficiaries who are younger than full retirement age if they earn more than the annual limit ($21,240 for 2023). Withheld benefits are subsequently added to monthly benefits once the beneficiary reaches full retirement age.
Cosponsors (6)
- Beth Van Duyne (R-TX)
- Claudia Tenney (R-NY)
- Thomas Tiffany (R-WI)
- Diana Harshbarger (R-TN)
- Rudy Yakym (R-IN)
- Pete Stauber (R-MN)
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.