More Transparent and Honest Communications with American Workers Reform Act of 2007

This bill would require Social Security benefit statements to include specific information about the potential impact of future funding shortfalls on individual retirement payments. If the Social Security Trust Funds are projected to be unable to pay full benefits, the statements would have to show the estimated percentage reduction a worker might face if Congress does not take action. Additionally, the bill would provide workers with benefit estimates for retiring at ages 62, 70, and their normal retirement age, including a separate schedule showing how those amounts would change if the trust funds were depleted.