U.S. Reps. Tom Rice (R-SC) and Tom Reed (R-NY) introduced legislation that would strengthen Social Security for long career workers.
“It’s important we create a new minimum benefit, particularly for the low-wage workers such as cashiers, cooks, retail salespeople, janitors, and housekeepers, so they can be rewarded for their many years in the workforce as they retire,” Rep. Rice said.
The congressman on June 15 sponsored the Strengthening Social Security for Long Career Workers Act, H.R. 3916, with original cosponsor Rep. Reed to establish a new minimum Social Security benefit that would increase benefits for long-career, low-wage workers.
“My district is home to more than 154,000 Old-Age, Survivors, and Disability Insurance (OASDI) recipients — the most of any district in South Carolina,” said Rep. Rice. “While well intended, the minimum benefit enacted in 1972 has lost strength over time and does not help many beneficiaries today.”
The special minimum benefit is based on the number of years an individual has worked in Social Security-covered employment at or above a certain amount of earnings with the maximum benefit for those with 30 years of coverage, according to information provided by Rep. Rice’s staff.
The monthly special minimum benefit for 2021 is equal to $43 for an individual with 11 years of coverage and $897.90 for an individual with at least 30 years of coverage, according to the information, which notes that since 1979, the benefit amount has been indexed by price growth.
If enacted, H.R. 3916 would enable those with 35 years of earnings to receive the maximum minimum benefit, equal to $1,577.92 in 2021, the information says, while the minimum benefit would increase with wage growth, allowing it to continue to help workers over time.
H.R. 3916 has been referred for consideration to the U.S. House Ways and Means Committee.