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A bill to amend title II of the Social Security Act to update the amount of Social Security lump sum death payments and index lump sum death payments to inflation.
9/26/2024, 10:56 AM
Summary of Bill S 5178
Bill 118 s 5178, also known as the "Social Security Lump Sum Death Payment Act," aims to make changes to title II of the Social Security Act. The main goal of this bill is to update the amount of Social Security lump sum death payments and to index these payments to inflation.
Currently, when a person who is receiving Social Security benefits passes away, their surviving family members may be eligible to receive a one-time lump sum death payment. This payment is meant to help with the financial burden of funeral expenses and other immediate costs that may arise after the death of a loved one.
However, the current amount of this lump sum death payment has not been updated in many years, leading to concerns that it may not adequately cover the costs associated with a funeral and other expenses. This bill seeks to address this issue by increasing the amount of the lump sum death payment and ensuring that it is adjusted for inflation in the future. By updating and indexing the Social Security lump sum death payments, this bill aims to provide more financial support to families who have lost a loved one and help ensure that they are able to cover the necessary expenses during a difficult time.
Currently, when a person who is receiving Social Security benefits passes away, their surviving family members may be eligible to receive a one-time lump sum death payment. This payment is meant to help with the financial burden of funeral expenses and other immediate costs that may arise after the death of a loved one.
However, the current amount of this lump sum death payment has not been updated in many years, leading to concerns that it may not adequately cover the costs associated with a funeral and other expenses. This bill seeks to address this issue by increasing the amount of the lump sum death payment and ensuring that it is adjusted for inflation in the future. By updating and indexing the Social Security lump sum death payments, this bill aims to provide more financial support to families who have lost a loved one and help ensure that they are able to cover the necessary expenses during a difficult time.
Current Status of Bill S 5178
Bill S 5178 is currently in the status of Bill Introduced since September 25, 2024. Bill S 5178 was introduced during Congress 118 and was introduced to the Senate on September 25, 2024. Bill S 5178's most recent activity was Read twice and referred to the Committee on Finance. as of September 25, 2024
Bipartisan Support of Bill S 5178
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
4Democrat Cosponsors
2Republican Cosponsors
0Unaffiliated Cosponsors
2Policy Area and Potential Impact of Bill S 5178
Primary Policy Focus
Alternate Title(s) of Bill S 5178
A bill to amend title II of the Social Security Act to update the amount of Social Security lump sum death payments and index lump sum death payments to inflation.
A bill to amend title II of the Social Security Act to update the amount of Social Security lump sum death payments and index lump sum death payments to inflation.
Comments
Sponsors and Cosponsors of S 5178
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