Public Law 98-21
E1032596
Public Law 98-21 is the 1983 U.S. federal statute that significantly reformed Social Security to address its financial solvency and adjust benefits and taxation.
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Social Security reform law
ⓘ
United States federal statute ⓘ |
| affectedProgram |
Disability Insurance
ⓘ
Hospital Insurance (Medicare Part A) NERFINISHED ⓘ Old-Age and Survivors Insurance NERFINISHED ⓘ |
| aimedTo |
improve financial solvency of Social Security
ⓘ
prevent near-term exhaustion of Social Security trust funds ⓘ |
| alsoKnownAs | 1983 Social Security reforms ⓘ |
| congressNumber | 98th United States Congress NERFINISHED ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| createdProvision |
changes in benefit computation for certain workers
ⓘ
changes in cost-of-living adjustment timing ⓘ changes in coverage rules for state and local government employees ⓘ changes in windfall benefits rules ⓘ coverage of certain nonprofit organization employees under Social Security ⓘ coverage of federal civilian employees under Medicare ⓘ coverage of members of Congress under Social Security ⓘ coverage of newly hired federal employees under Social Security ⓘ delayed cost-of-living adjustments for Social Security benefits ⓘ temporary interfund borrowing among Social Security trust funds ⓘ |
| enactedBy | United States Congress ⓘ |
| hasComponent |
amendments to the Internal Revenue Code
ⓘ
amendments to the Social Security Act ⓘ |
| hasTitle | Social Security Amendments of 1983 NERFINISHED ⓘ |
| informedBy | recommendations of the National Commission on Social Security Reform ⓘ |
| introducedPayrollTaxChange |
accelerated scheduled payroll tax increases
ⓘ
increased Social Security payroll tax rates ⓘ |
| introducedTaxationOfBenefits |
federal income taxation of a portion of Social Security benefits
ⓘ
taxation of up to 50 percent of Social Security benefits for higher-income beneficiaries ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
United States federal government
|
| legalCitation | Public Law 98-21 NERFINISHED ⓘ |
| longTermEffect |
extended solvency of Social Security trust funds
ⓘ
gradual increase in full retirement age from 65 to 67 ⓘ increased share of Social Security benefits subject to federal income tax for some beneficiaries ⓘ |
| modifiedBenefitFormula |
adjustments to early retirement reductions
ⓘ
changes to delayed retirement credit ⓘ gradual increase in normal retirement age ⓘ |
| motivatedBy | projected insolvency of Social Security trust funds in the early 1980s ⓘ |
| policyArea |
federal taxation
ⓘ
retirement policy ⓘ social insurance ⓘ |
| presidentAtSigning | Ronald Reagan NERFINISHED ⓘ |
| primarySubject |
Medicare
NERFINISHED
ⓘ
Old-Age, Survivors, and Disability Insurance NERFINISHED ⓘ Social Security NERFINISHED ⓘ |
| publicLawNumber | 98-21 NERFINISHED ⓘ |
| signedBy | Ronald Reagan ⓘ |
| yearEnacted | 1983 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.