Legal and Political Aspects of the Business

Pick an administrative agency of either the Federal or a State government. Find where the current and proposed regulation changes for that agency are located on the internet. (i.e. the Federal Register or the State Administrative Agency website.) Regulations.gov is a good place to begin your research. Pick one proposed regulation change currently under consideration (if you find one which has already closed out, but interests you, you can use that, instead) and write the following regarding it:

State the administrative agency which controls the regulation. Explain why this agency and your proposed regulation interests you (briefly). Will this proposed regulation affect you or the business in which you are working? If so, how? Submit a copy of the proposed regulation along with your responses to these five questions. The proposed regulation can be submitted as either a separate Word document (.doc) or Adobe file (.pdf). This means you will submit two attachments to the Week 2 Dropbox:  a Word doc with the questions and your answers and a copy of the proposed regulation you used for this assignment.

The administrative agency I choose is the Social Security Administration and the proposed regulation is “Amendments to Regulations Regarding Withdrawal of Applications and Voluntary Suspension of Benefits”. I selected this agency because as most of us deal with it and some way or the other everyone in the family will affected by the proposed rules of it. Coming to this rule ,it is so interesting that how can they limit the period of applying and taking their rights away.

Describe the proposal/change.

Basically workers have the right to choose when to apply for old age benefits. So depending on the time they apply the number of benefits will be decreased or increased accordingly. According to this proposed regulation they are limiting the time for the withdrawal of old age benefits applications. They only allow only one withdrawal for lifetime and also limit the voluntary suspension benefits. And they say that by doing these changes to the current policies they can avoid the misuse of them.

Write the public comment which you would submit to this proposal. If the proposed regulation deadline has already passed, write the comment you would have submitted. Explain briefly what you wish to accomplish with your comment.

I am not favor of this proposed rule because my uncle who is about to retire in few years when he is 62 and wanted to postpone to apply for old age benefits at 70.This is because it will increase the benefits. At present he is good and planning to work few more years after retiring so that he can take care of his sister who is suffering from cancer. By this proposed rule he has to apply for the benefits within 12 month period after he retires which makes him out of money when he actually is in need of it. Old age people don’t have any one to take care of them and they all expect more benefits and they know when they do need the benefits. If they think that are they proposing this rule to not make it misuse or abuse they should find out the percentage of people who are suffering from it.