An act to amend the Social Security Act with respect to the retirement tests, to reduce spending under title II of the Social Security Act, 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 prevent, in calculating the deduction from an individual's benefits because of work, the charging of excess earnings to any month in which an individual did not engage in self-employment and did not render services for wages of more than the applicable exempt amount as determined under title II. Makes Medicare hospital insurance benefits available to individuals who are entitled to OASDI benefits but who have not applied for such benefits by providing for separate applications for the two types of benefits. Disregards after December 1977, for purposes of computing the amount of OASDI benefits, any income attributable to services performed before becoming eligible for OASDI.…