To amend title II of the Social Security Act to phase out the earnings test over a 5-year period for individuals who have attained retirement age, and for other purposes.

[AI summary unavailable — showing source text] Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to increase by $3,000 for each year from 1992 through 1996 the amount of outside income which beneficiaries who have attained retirement age may earn without incurring a reduction in benefits. Removes such income limitation thereafter. Accelerates the effective dates of increases in the delayed retirement credit rate for individuals who work beyond retirement age.…