To amend the Internal Revenue Code of 1986 to exclude from the social security tax on self-employment income certain amounts received by insurance salesmen after retirement.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to exclude from the social security tax on self-employment income certain amounts received by a former insurance salesman after retirement if: (1) such amounts received are deferred or renewal commissions on policies sold by such salesman before retirement or are computed by reference to commissions received by such salesman before retirement on such policies; and (2) such salesman was not an employee with respect to the sales of such policies.…