To increase the exempt amount applicable for the retirement earnings test for months in 2020, and for other purposes.

In general— For purposes of subsection (b) of section 203 of the Social Security Act (42 U.S.C. 403) and notwithstanding subsection (f)(8)(B) of such section, the exempt amount which is applicable to all individuals (including individuals described in subsection (f)(8)(D) of such section) for months in the taxable year ending after 2019 and before 2021 shall be an amount equal to the contribution and benefit base determined under section 230 of such Act with respect to remuneration paid (and taxable years beginning) in calendar year 2020.

Determination of exempt amounts for months after 2020— For purposes of determining exempt amounts for months in taxable years beginning after 2020, section 203(f)(8) shall be applied as if exempt amounts for months in the taxable year ending after 2019 and before 2021 had been determined under such section without regard to subsection (a).