# Summary of S. 5042, Social Security 2100 Act
The Social Security 2100 Act is a comprehensive reform bill that strengthens Social Security benefits, shores up the program's finances, and improves service delivery through 2036. The legislation affects current Social Security beneficiaries, future retirees, disabled workers, and their families.
The bill increases benefits in several ways: it raises the basic benefit calculation from 90 to 93 percent, adjusts cost-of-living increases to better reflect elderly spending patterns, raises minimum benefits for low-wage workers, extends child benefits to post-secondary students under age 26, and improves widow and widower benefits for two-income households. It also eliminates the five-month waiting period for disability benefits and provides caregiver credits for those caring for young children or dependent relatives. Additionally, the bill gradually increases benefits for those receiving benefits for 15 or more years and improves benefits for children raised by grandparents or other relatives.
To fund these enhancements, the bill eliminates the wage cap for Social Security taxes after 2026 (meaning high earners pay the tax on all wages), applies a 12.4 percent Social Security tax to net investment income above certain thresholds, and includes earnings above the current wage base in the benefit formula at a reduced rate. These revenue measures take effect in 2027 and continue through 2036.
The bill also strengthens Social Security Administration operations by requiring staffing levels maintained at January 2025 levels, imposing a moratorium on office closures, protecting beneficiary data from political appointees, and ensuring access to professional representation for benefit claimants. Most benefit changes and revenue provisions apply from 2027 through 2036, with specified reversion procedures after that period.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.