Social Security Guarantee Plus Act of 2005

Summary

Social Security Guarantee Plus Act of 2005 - Amends the Internal Revenue Code (IRC) and title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to establish a Social Security Guarantee Program, to be administered by a Social Security Guarantee Board established within the Social Security Administration. Authorizes any individual age 18 with a Social Security number to elect to enroll as a covered individual and receive in the Social Security guarantee account established for him or her by the Board a calendar year payment of Social Security guarantee refundable credits and interest. Requires designation of a certified account manager by or on behalf of each covered individual to hold the individual's Social Security guarantee account assets for investment, including in common stock portfolios and fixed income securities. Amends the IRC to make the Social Security guarantee accounts benefits taxable as Social Security benefits. Amends the Congressional Budget Act to provide for a lock-box for Social Security surpluses. Amends SSA title II to: (1) repeal the limitation on the amount of outside income which beneficiaries age 62 or over may earn (earnings test) without incurring a reduction in benefits; (2) increase widow's and widower's insurance benefits; (3) provide for benefits for disabled widows and widowers without regard to age; (4) repeal the seven-year restriction on eligibility for widow's and widower's insurance benefits based on disability; (5) waive the two-year waiting period for a divorced spouse's benefits if the other spouse remarries; (6) increase the amount of wages and self-employment income credited to years taken into account for beneficiaries precluded from remunerative work by the needs of child care; and (7) reduce the Government pension offset.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 10 February 2005

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 10 February 2005

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 10 February 2005

   Introduced

   Sponsor introductory remarks on measure. (CR E220)

   Source: IntroReferral

4. 10 February 2005

   Introduced

   Introduced in House

   Source: IntroReferral

5. 10 February 2005

   Introduced

   Introduced in House

   Source: IntroReferral

6. 3 March 2005

   Referred

   Referred to the Subcommittee on Social Security.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 10 February 2005 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 10 February 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 10 February 2005

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 10 February 2005

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Shaw, E. Clay, Jr. [R-FL-22] · R · Sponsor
• Rep. Lewis, Ron [R-KY-2] · R · Sponsor
• Rep. Norwood, Charles W. [R-GA-9] · R · Sponsor
• Rep. Weller, Jerry [R-IL-11] · R · Cosponsor
• Rep. Tancredo, Thomas G. [R-CO-6] · R · Cosponsor
• Rep. Bartlett, Roscoe G. [R-MD-6] · R · Cosponsor
• · hswm00 · Standing
• · hsbu00 · Standing
• · hsru00 · Standing

Related records

• related to → Bipartisan Retirement Security Act of 2005
• related to → Individual Social Security Investment Program Act of 2005
• related to ← Social Security Personal Savings Guarantee and Prosperity Act of 2005
• related to ← Retirement Security Act of 2005
• related to ← Saving Social Security Act of 2005
• related to ← Social Security Personal Savings Guarantee and Prosperity Act of 2005