ANDRIA HALL, CNN ANCHOR: After today, U.S. workers over 65 can earn any amount of money and still collect full Social Security benefits. President Clinton signed the bill allowing that, and he unveils a new Internet service for younger workers. Our White House correspondent is Kelly Wallace, and she joins us, live, now, from the White House. Hi Kelly.</s>KELLY WALLACE, CNN CORRESPONDENT: Well, good morning, Andria. Until today, older Americans, between the ages of 65 and 69, would lose $1 of every $3 of their Social Security benefits, if they earned more than $17,000 a year. Well, once Mr. Clinton signs this new bill into law at a White House ceremony later this morning, those older Americans will no longer be zapped with a penalty left over from the Depression Era. A penalty that, basically, was put into effect to encourage older Americans to retire to make room for younger ones. Now this bill passed in both houses with overwhelming bipartisan support. Republicans and Democrats both said it was an idea that was long overdue. And it just happens to be something that appeals to a key constituency during this election season, and that is the elderly. It will effect about 800,000 older Americans. Now to help younger Americans, the president will unveil a new Internet site, which will be up and running beginning today, and this is sponsored by the Social Security Administration. Basically, you will be able to go on-line and calculate your future Social Security retirement benefits. And this is a way for you to plan for your retirement. But the agency wants you to know that people will not be able to tap into the Social Security Administration's private records concerning people's employment histories and their earning history. And to tap in and find out what you will be earning in your retirement, you can go to that site. It's www.ssa.gov. Kelly Wallace, CNN, reporting live from the White House. Search CNN.com CNNSI.com CNNmoney.com The Web
Clinton to Sign Bill Eliminating Social Security Penalty for Workers 65-69