2. Higher Benefits for Over 25 Million People 3. 4. Increased Social Security Protection for Nearly All Workers and Their Families 5. Benefit Amounts Increased 10 Percent for a Worker Age 65 6. Benefit Amounts Increased 10 Percent for a Couple Age 65 Automatic Adjustment of Benefits to Prices Decline in Real Value of Benefits Since 1954 Due to Lag in Benefit Increases $9000 Contribution and Benefit Base in 1972 Maintains Relationship of Base to Earnings Levels Automatic Adjustment of Maximum Earnings Counted Eliminating Work Disincentives in the Retirement Test Widow's Benefit at Age 65 Increased to 100 Percent of Worker's Benefit 7. 8. 9. 10. 11. 12. 13. 14. Other Improvements in Social Security Protection Benefit Computation Under Present Law 19. Estimated Progress of the Hospital Insurance Trust Fund 20. Estimated Progress of the Cash-Benefits Trust Funds 21. Financing Hospital Insurance Benefits 22. Financing Social Security Cash Benefits 23. Additional Payments in First Full Calendar Year and Number of People Affected (137) SOCIAL SECURITY PROPOSALS 1. 10% BENEFIT INCREASE 2. INCREASE IN EARNINGS BASE TO $9000 3. ELIMINATION OF WORK DISINCENTIVES IN THE RETIREMENT TEST 4. FUTURE AUTOMATIC ADJUSTMENT OF BENEFITS, EARNINGS BASE, AND RETIREMENT TEST 5. INCREASE IN WIDOW'S BENEFITS 6. AGE-62 COMPUTATION POINT FOR MEN 7. ADDITIONAL DEPENDENTS' BENEFITS AND NONCONTRIBUTORY WAGE CREDITS FOR MILITARY SERVICE 8. COST CONTROL AMENDMENTS FOR HEALTH BENEFITS 9. RESTORATION OF ACTUARIAL BALANCE OF HOSPITAL INSURANCE PROGRAM 10. MODIFICATION IN CONTRIBUTION RATE SCHEDULES HIGHER BENEFITS FOR OVER 25 MILLION PEOPLE (1 OUT OF 8 AMERICANS 19 MILLION PEOPLE 4/2 MILLION CHILDREN & WIDOWS AND WIDOWERS RETIRED WORKERS AND WIVES→ WIDOWED MOTHERS DISABLED WORKERS AND WIVES DISABLED WIDOWS SPECIAL PAYMENTS TO INCREASED SOCIAL SECURITY PROTECTION FOR NEARLY ALL WORKERS AND THEIR FAMILIES-- 92 MILLION WORKERS WILL CONTRIBUTE TO SOCIAL SECURITY IN 1969 BENEFIT AMOUNTS INCREASED 10 PERCENT FOR A WORKER AGE 65 AVERAGE PRESENT LAW REPLACEMENT OF AVERAGE EARNINGS 25% 50% 75% 100% $400 $600 $650 $750 MAXIMUM ANNUAL EARNINGS COUNTED-$9000 BENEFIT AMOUNTS INCREASED 10% FOR A COUPLE AGE 65 REPLACEMENT OF AVERAGE EARNINGS $200 $400 $600 $650 $750° MAXIMUM ANNUAL EARNINGS COUNTED-$9000 |