This bill amends the Social Security Act to establish new limitations on the recovery of certain overpayments of old-age insurance benefits. Specifically, it prohibits the Commissioner from recovering an overpayment if it resulted from an error on the part of the Commissioner and occurred more than six months before the overpayment was discovered. Furthermore, for overpayments caused by Commissioner error, the bill restricts the monthly reduction of a person's benefit to recover the overpayment to no more than 5 percent of the amount payable. These protections, however, do not apply if the Commissioner determines that the recipient has engaged in fraud or similar fault regarding the program. The amendments take effect upon enactment and apply to all outstanding overpayments on or after that date, aiming to protect beneficiaries from administrative errors.