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H.R. 234: Savings for Seniors Act of 2011
To amend title II of the Social Security Act to establish a Social Security Surplus Protection Account in the Federal Old-Age and Survivors Insurance Trust Fund to hold the Social Security surplus, to provide for suspension of investment of amounts held in the Account until enactment of legislation providing for investment of the Trust Fund in investment vehicles other than obligations of the United States, and to establish a Social Security Investment Commission to make recommendations for alternative forms of investment of the Social Security surplus in the Trust Fund.
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Introduced :
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Fri, Jan 7, 2011
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Sponsor :
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Status :
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introduced Fri, Jan 7, 2011
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May-12
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0 Total Hits For All Bills
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Co-Sponsors
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Actions
| Date | Type | Description | Result |
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1/1/0001
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action
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Referred to the House Committee on Ways and Means.
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1/1/0001
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action
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Referred to the Subcommittee on Social Security.
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Rolls
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Committee Assignments
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Subject Terms
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Related Legislative
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Amendments
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Titles Assigned
| Type | AS | Title |
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short
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introduced
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Savings for Seniors Act of 2011
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official
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introduced
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To amend title II of the Social Security Act to establish a Social Security Surplus Protection Account in the Federal Old-Age and Survivors Insurance Trust Fund to hold the Social Security surplus, to provide for suspension of investment of amounts held in the Account until enactment of legislation providing for investment of the Trust Fund in investment vehicles other than obligations of the United States, and to establish a Social Security Investment Commission to make recommendations for alternative forms of investment of the Social Security surplus in the Trust Fund.
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SUMMARY:
1/7/2011--Introduced.
Savings for Seniors Act of 2011 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish in the Federal Old-Age and Survivors Insurance Trust Fund a Social Security Surplus Protection Account to hold the Social Security surplus.
Denies the availability of the balance in the Account for investment by the Managing Trustee.
Establishes in the executive branch of Government a Social Security Investment Commission to study and report to the President and Congress on the most effective vehicles for investment of the Federal Old-Age and Survivors Insurance Trust Fund, other than investment in the form of U.S. obligations resulting in the transfer of Trust Fund assets to the general fund of the Treasury.
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