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RCP Congressional Bill Tracker - H.R. 603

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H.R. 603: Savings for Seniors Act of 2015

Title: Savings for Seniors Act of 2015

Introduced: Jan 28, 2015 (114th Congress)

Sponsor: Rep. Marsha W. Blackburn [R-TN7]

Status: Referred to Committee - Referred to the House Committee on Ways and Means.

Summary: Savings for Seniors Act of 2015 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 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.

Votes


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