To amend title II of the Social Security Act to provide that the reductions in Social Security benefits which are required in the case of spouses and surviving spouses who are also receiving certain Government pensions shall be equal to the amount by which the total amount of the combined monthly benefit (before reduction) and monthly pension exceeds $2,000.
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to modify the formula for determining the amount of reduced monthly OASDI benefits payable to a spouse, surviving spouse, or parent receiving monthly payments from a Federal or State pension plan. Declares that such benefit reductions shall be equal to the lesser of: (1) the amount by which the total amount of the combined monthly benefit (before reduction) and monthly pension exceeds $2,000, adjusted for inflation; or (2) an amount equal to two-thirds of the amount of any such monthly pension plan payment.
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