On June 30, 2015, the White House announced that the United States and Brazil have signed a Social Security Totalization Agreement. The agreement, which has not yet been made public, will undergo review by the legislatures in the United States and Brazil. The agreement will eliminate dual social security contributions, which occur when a worker from one country works in another country.
On June 30, 2015, the White House announced that the United States and Brazil have signed a Social Security Totalization Agreement (the “agreement”).1 The agreement, which has not yet been made public, will undergo review by the legislatures in the United States and Brazil. Once approved, Instruments of Approval will be exchanged. The agreement will take effect after completion of the exchange.
The agreement will eliminate dual social security contributions, which occur when a worker from one country works in another country. It will also close the gaps in benefit protections for workers who divide their careers between the United States and Brazil. The United States estimates that the agreement will save U.S. and Brazilian companies more than $900 million over the first six years.
1 For a copy of the signing announcement, please see: https://www.whitehouse.gov/the-press-office/2015/06/30/fact-sheet-united-states-and-brazil-mature-and-multi-faceted-partnership.
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