H.R.491 - Social Security Trust Funds Integrity Act of 1995104th Congress (1995-1996)
|Sponsor:||Rep. Solomon, Gerald B. H. [R-NY-22] (Introduced 01/11/1995)|
|Committees:||House - Commerce; Ways and Means|
|Latest Action:||02/06/1995 Referred to the Subcommittee on Health and Environment, for a period to be subsequently determined by the Chairman.|
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Subject — Policy Area:
- Social Welfare
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Summary: H.R.491 — 104th Congress (1995-1996)All Bill Information (Except Text)
Introduced in House (01/11/1995)
Social Security Trust Funds Integrity Act of 1995 - Amends titles II (Old Age, Survivors and Disability Insurance) (OASDI) and XVIII (Medicare) of the Social Security Act to restructure the Board of Trustees of the trust funds supporting the OASDI and Medicare programs, with each Board composed of members appointed by the President, by and with the advice and consent of the Senate, on a bipartisan basis at the recommendation of House and Senate leadership and the five largest organizations representing senior citizens.
Makes it the duty of the Managing Trustee chairing the Board to invest trust fund amounts according to an annual investment plan the Board is required to formulate and submit to the President and the Congress.
Removes restrictions on investment and disinvestment of amounts in such trust funds.