Social Security Trust Funds Investment Act of 2007

Summary

Social Security Trust Funds Investment Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the duty of the Board of Trustees of the Social Security Trust Funds is to hold the Funds. Specifies that it is a duty to hold the Funds in trust for the beneficiaries and to ensure that the assets of the Funds are not diverted. Authorizes investment of the Funds in securities that are not limited to obligations of the United States or obligations guaranteed as to principal and interest by the United States. Allows investment in such other securities as the Board of Trustees may consider prudent investments. Requires the Board of Trustees to exercise the judgment and care under the circumstances then prevailing that persons of ordinary prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.

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Timeline

1. 19 December 2007

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 19 December 2007

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 December 2007

   Introduced

   Introduced in House

   Source: IntroReferral

4. 20 December 2007

   Referred

   Referred to the Subcommittee on Social Security.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 19 December 2007 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 December 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 19 December 2007

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 19 December 2007

  Open at official source

Sponsors

• Louie Gohmert · R · Sponsor
• · hswm00 · Standing

Related records

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