H.R.3435 - Savings for Seniors Act of 2005109th Congress (2005-2006)
|Sponsor:||Rep. Blackburn, Marsha [R-TN-7] (Introduced 07/26/2005)|
|Committees:||House - Ways and Means|
|Latest Action:||08/04/2005 Referred to the Subcommittee on Social Security. (All Actions)|
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Summary: H.R.3435 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in House (07/26/2005)
Savings for Seniors Act of 2005 - 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.