Legislation in 1972 did more than start automatic COLAs. It also created an automatic adjustment in the wages subject to FICA withholding. A new program, Supplemental Security Income , was started to establish minimum amounts for retirement benefits. Other provisions passed at that time adjusted the formula for men who retired at age 62 to make it match the formula used for women, made people who had received disability benefits for at least two years eligible for Medicare health insurance benefits (previously available only to people aged 65 or older) and allowed for Delayed Retirement Credits, increasing the amount of any benefit paid to people who continued working after reaching age 65.
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