A bill to amend title II of the Social Security Act to provide for the establishment of appropriate accounting procedures to deal with social security benefit checks which are not negotiated within thirty-six months.

Summary

Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to direct the Secretary of the Treasury to: (1) implement procedures for identifying social security benefit checks issued under title II which have not been negotiated within 36 months; and (2) credit the appropriate social security trust fund on a monthly basis for the amount of all unnegotiated benefit checks drawn on such trust fund, plus the interest which would have been earned if such checks had not been drawn. Requires the Secretary to pay a benefit check presented for payment after it has been credited to one of the trust funds if it is otherwise proper. Requires the Secretary, thirty months after a benefit check has been issued, to notify the payee: (1) that such check is unnegotiated; and (2) of the effects of this Act. Authorizes appropriations to reimburse the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund for the total amount of unnegotiated benefit checks.

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1 official file

• Introduced in House

  summary · EN · 10 August 1982

  Open at official source

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