Social Security Trust Funds Management Act of 1986

Summary

Social Security Trust Funds Management Act of 1986 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to direct the Managing Trustee of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (OASDI trust funds) to immediately invest such portion of the OASDI trust funds as is not required for current withdrawals. Prohibits the sale and redemption of OASDI trust fund assets or the exenditure of OASDI trust fund amounts for purposes other than those specified in title II of the Act. Requires members of such trust funds' Board of Trustees to faithfully execute their duties, but does not impose a fiduciary duty. Requires that, in consideration of the public debt limit, required investments of trust fund amounts occur prior to the issuance of other obligations. Directs that the tax receipts earmarked for the OASDI program be immediately transferred (currently, monthly transfers are made) from the general fund of the Treasury to the OASDI trust funds. Requires the Board of Trustees of the OASDI trust funds to meet at least twice each year. Sets forth provisions requiring reports by the Board of Trustees and the Managing Trustee to the Congress regarding the operation and status of the OASDI trust funds.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 11 June 1986

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.