A bill to require the Social Security Administration to make changes to the social security terminology used in the rules, regulation, guidance, or other materials of the Administration.
Impact
The passage of SB692 would have significant implications for how the SSA communicates with the public regarding retirement benefits. By standardizing language and replacing terms that may be viewed as complex or outdated, the bill seeks to promote clarity and support informed decision-making among beneficiaries and potential recipients of Social Security. This linguistic reform could enhance the SSA's ability to educate individuals about their rights and options concerning Social Security, ultimately contributing to a more accessible social safety net.
Summary
SB692 aims to update and improve the terminology used by the Social Security Administration (SSA) in its rules, regulations, and guidance materials. Specifically, the bill mandates that several existing terms be replaced with more consumer-friendly language to enhance public understanding. Under the provisions of the bill, the term 'early eligibility age' would be substituted with 'minimum benefit age', while 'full retirement age' and 'normal retirement age' would be replaced with 'standard benefit age'. Additionally, the phrase 'delayed retirement credit' would be eliminated, along with any mention of age 70 related to the maximum age for receiving delayed retirement credits, which would change to 'maximum benefit age'.
Contention
While SB692 is primarily focused on updating terminology, it has sparked discussions about the underlying perceptions of Social Security and its benefits. Supporters argue that clearer language can remove barriers to understanding, potentially increasing utilization of benefits among eligible individuals. However, some critics raise concerns that such changes, while ostensibly positive, could overshadow deeper issues in Social Security policy, including sustainability and adequacy of benefits. As debates continue about reforming social safety nets, the refinement of terminology may be viewed as a minor reform compared to the broader structural challenges facing Social Security.
Supporting the current definition of materiality in the securities laws and opposing new disclosure requirements outside the core mission of the Securities and Exchange Commission.
To direct the Administrator of the Federal Aviation Administration to appoint an Associate Administrator for Aviation Safety Technology, and for other purposes.
Article I Regulatory Budget Act This bill requires the establishment of a federal regulatory budget to limit the costs of federal regulations. It also establishes requirements for disclosing the projected costs of federal regulations and procedures for enforcing the regulatory budget.