Social Security Amendments

[AI summary unavailable — showing source text] Social Security Amendments - Title I: Old Age, Survivors and Disability Insurance - Increases the minimum primary OASDI insurance amount to $120 per month. Provides an alternative primary insurance amount, equal to $8 multiplied by the number of years up to 25 that a person has worked under social security and had covered earnings equal to the amounts specified. Increases the social security tax and benefit base to $15,000 a year. Increases the exempt amount under the social security earnings test to $3,000 a year ($250 per month). Provides for automatic increases in the exempt amount in direct proportion to the rise in average wages taxed for social security purposes. Increases the lump-sum death payment to the smaller of four times the primary insurance amount or 150 percent of the maximum primary insurance amount shown in the benefit table in effect at the time the worker died. Lowers the retirement age for men to 62 with full benefits and to 60 with actuarially reduced benefits. Provides that widow's and widower's benefits shall be paid to a widow or widower if that person's spouse died while receiving benefits and the survivor was at least 50 at the time of the spouse's death.…