A bill to amend the Social Security Act to establish depository accounts in the Treasury for those portions of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund not required to meet current withdrawals, and for other purposes.

Summary

Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to establish the following accounts in the Treasury: (1) the Old-Age and Survivors Insurance Depositary Account; (2) the Disability Insurance Depositary Account; (3) the Hospital Insurance Depositary Account; and (4) the Supplementary Medical Insurance Depositary Account. Requires the Managing Trustee of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund to deposit those portions of such trust funds not required to meet current withdrawals from such trust funds into the corresponding depositary accounts so established. Revises investment requirements with respect to trust fund assets deposited in such accounts.

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• Introduced in Senate

  summary · EN · 3 February 1983

  Open at official source

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