1. Short title
This Act may be cited as the “Protecting Benefits for Retirees Act”.
Protecting Benefits for Retirees Act
A BILL
To amend title II of the Social Security Act to provide that the national average wage index for any year shall not be less than the amount of the national average wage index for the preceding year.
2. Modifying the calculation of the Social Security average wage index to conform with the calculation of Social Security cost-of-living adjustments and taxable maximum
Section 209(k) of the Social Security Act (42 U.S.C. 409(k)) is amended—
in paragraph (1), by striking “subject to regulations” and inserting “subject to paragraph (4) and regulations”; and
by adding at the end the following new paragraph:
“(4) For any calendar year after 2019, if the average of the total wages for a calendar year is less than the national average wage index applicable under this subsection for the preceding calendar year, the amount of the national average wage index for the calendar year involved shall be the amount of the national average wage index that applied under this subsection for such preceding calendar year.”