Bill > HR5808

This bill, the New Parents Act of 2021, amends Title II of the Social Security Act to make available parental leave benefits to parents following the birth or adoption of a child. The key provisions of the bill are: 1. Eligibility: Individuals must have at least 8 quarters of Social Security coverage, 4 of which are from the previous calendar year, or at least 12 quarters of coverage, and must file an application for a parental leave benefit with respect to a qualified child. 2. Benefit Amount: The parental leave benefit is equal to the individual's primary insurance amount under Social Security, up to a maximum of 3 benefit months. 3. Repayment: Individuals who receive the parental leave benefit must repay the full cost of the benefit through reductions in their future Social Security old-age insurance benefits or an increase in their retirement age. 4. Fraud Prevention: The Social Security Commissioner is required to establish procedures to prevent fraud in the parental leave benefit program. 5. Relationship with State Laws and Employer Benefits: The bill does not preempt or supersede any state or local laws that provide similar paid parental or family leave benefits, and it does not diminish any greater benefits provided by employers. 6. Sunset Provision: The parental leave benefit program will not be available in any year where the Social Security trust fund ratio is projected to be less than 20 percent.