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HR 219 112th Congress House Social Welfare Bank accounts, deposits, capital Budget deficits and national debt Financial services and investments Government trust funds Securities Social security and elderly assistance

Social Security Preservation Act of 2011

Introduced: January 7, 2011 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 14, 2011
Referred to the Subcommittee on Social Security.
Jan 7, 2011
Referred to the House Committee on Ways and Means.
Jan 7, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Social Security Preservation Act of 2011 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require the Managing Trustee of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security Trust Funds) to ensure that the annual surplus of the Social Security Trust Funds is invested in: (1) marketable interest-bearing obligations of the United States or obligations guaranteed by the United States; or (2) certificates of deposit in insured depository institutions. Outlines requirements for determining the annual surplus of the Trust Funds.

Prohibits disinvestment of Social Security Trust Fund amounts from public debt obligations, any refraining from making such investments, or any delay in making normal deposits in such Trust Funds for public debt limit-related purposes. Authorizes, with certain conditions, the sale of Social Security Trust Fund public debt obligations for the payment of cash benefits and administrative expenses.

What's happening now January 14, 2011

Referred to the Subcommittee on Social Security.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1