Social Security Earnings Test Grace Year Act of 1998

[AI summary unavailable — showing source text] Social Security Earnings Test Grace Year Act of 1998 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to modify provisions concerning the months to which earnings are charged (grace year rule) that are used in applying provisions limiting the amount of outside income (earnings test) which a beneficiary may earn without incurring a reduction in benefits during the first year of an individual's entitlement to benefits. Declares that in determining excess earnings for such taxable year: (1) earnings for any month in such year preceding the first month in such year to which such excess earnings are chargeable shall not be taken into account; and (2) the number of months in such taxable year shall be deemed to be the number beginning with or after such first month.…