Congress Holds Hearing on Bills to Amend SS Law

On January 23, 2006, the HESA Committee held a hearing to listen to the FSMSSA’s and public’s opinions on four bills that were introduced by congress to amend the FSM Social Security law.
The first of the bills, Bill No. 14-34 is aimed at granting benefits to a surviving spouse who is working. This stature is in place to control the system’s unfunded liability and if this bill passes,

• FSMSS Board
  Meeting
• FSMSS 3rd
  Bi-Annual
  Conference
• Prior Service
  Trust Fund Board
  Meeting
• Prior Service
  Training
• Congress Public
  Hearing
• 4th Quarter 2005
  Summary Report

it would add more to the already outstanding amount.
Bill No. 14-56 will give benefits back to a remarried surviving spouse once he or she divorces. The Administrator noted that while this is a good amendment, there is already a new stature in the previously passed Public Law No. 14-37 that deals with this.
Bill No. 14-58 has to do with tax assessment on sole-proprietors.
Bill No. 14-72 will abolish the earnings test when it comes to a surviving spouse. Currently, the earnings test applies to all types of beneficiaries. The Administrator advised congress to delay the bill until sometime in the future when the system can afford such a change.