Paid Parental Leave via Social Security: Up to 3 Months in Exchange for Retirement Offset.
This Act introduces a paid parental leave benefit of up to three months following the birth or adoption of a child, funded through the Social Security system. Crucially, the full cost of this benefit must be repaid to the Trust Fund, either by reducing the individual's future monthly Social Security retirement checks for up to five years or by permanently increasing their retirement age.
Key points
Eligible new parents (biological or adoptive) with sufficient work history can receive up to 3 months of paid leave benefits within one year of the event.
The benefit is an advance on future Social Security payments and mandatory repayment of the full cost is required.
Repayment occurs either through deductions from the first 60 retirement benefit payments or by electing an irrevocable increase in the full retirement age.
The law does not override existing state paid leave laws or employer benefits that offer greater advantages.
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