Proposals

Truth About Social Security ("TASS") Plan
Supplemental Benefits

Minimum Benefit

Any worker who meets a minimum standard for years employed shall be guaranteed a minimum retirement benefit that is 120% of the poverty level for the elderly.

When the employee's calculated traditional plan benefit (before adjustments for contributions to private accounts) falls below the defined initial minimum benefit, the minimum benefit (minus the initial payout of an annuity purchased with the assets in the individual account) shall be the monthly benefit payable to the worker.

Disability Benefit

Any worker who, having completed a minimal number of years of employment and then becomes completely disabled shall be eligible for Social security disability benefits based on the standard formula, except that his accumulated wages shall be adjusted over the number of years since since s/he turned 18 (20 if the worker had an associate's degree from an accredited institution at the time of disability or 22 if a baccalaureate degree) rather than the 35 years used for the "standard" calculation. [The number of years will be further reduced for any years of military service the ended with an honorable discharge.] The resulting monthly benefit shall be used in the determination of minimum and dependent benefits.

Spousal and Other Dependent Benefits

Additional benefits for the spouse and other dependents of the worker shall be calculated as they are today, except that the basis for maximum family benefit shall take into account any contributions to individual accounts in the same manner as the worker's own benefit.

Survivor Benefits

In the event of the death of the primary worker on whose salary the benefits are calculated, the benefits to a surviving spouse (who received spousal benefits) shall be those calculated for the worker, but the spousal benefits shall be discontinued. Such an event will not affect the maximum family benefits

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