The President has notified the Congress of a new Social Security agreement between the United States and Switzerland. This replaces an agreement between the two countries signed in 1988. Agreements such as these generally provide for administrative cooperation between the two countries and totalization of wage credits for situations where a person can qualify for benefits only by combining wages earned in both countries. The agreements also prevent situations in which wages might be subjected to Social Security taxes in both countries.
Few people will be affected by this agreement but those few will be affected in major ways. All told, Social Security's international operations affect millions of people.