In a letter to Senate President Mlib Tmetuchl and House Speaker Noah Idechong, President Toribiong said that he is very appreciative of the lawmakers efforts.
He said the signing of the bill is very important to the beneficiaries of the SSA.“They need the money now more than ever. My signing of this bill into law will put that much needed money into their pockets in the near future,” Toribiong said.The new law intends to restore surviving spouse benefit and another benefit in full.The law amended RPPL No. 7-32 which increased certain social security benefits and also increased the taxable wage base to pay for the increase.The law also implemented an earnings test that resulted in a decrease in benefits for certain citizens who had previously been eligible to receive both the surviving spouse benefit and another benefit in full.Under the present law these citizens received no advanced warning that their benefits would be decreased. Provisions of the new law stated that the person who is receiving retirement benefits shall have his or her retirement benefit reduced by one dollar ($1.00) for each three dollars ($3.00) of wages earned during a quarter in excess of one thousand eight hundred dollars ($1,800). The reduction shall be applied in the quarters following the quarter in which the wages were earned.It also stated that a person who receives the surviving spouse benefit shall have his surviving spouse benefit reduced by $1.00 for every $3.00 for wages earned in a quarter in excess of one thousand five hundred dollars ($1,500.00), unless: the surviving spouse beneficiary is 60 years old or older; or the surviving spouse beneficiary was eligible for the surviving spouse benefit under section 755 prior to August 2, 2007. The reduction shall be applied in the quarters immediately following the quarter in which the wages were earned and a surviving spouse beneficiary qualifying under subsection (c)(2) shall receive such benefit at the level in existence immediately prior to August 2, 2007, unless such beneficiary received an increase in his surviving spouse benefit as a result of the enactment of RPPL No. 7-32. In the latter case, such beneficiary shall continue to receive that increased benefit.
