Social Security Amendments of 1983

Summary

Social Security Amendments of 1983 - Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to extend indefinitely the authority for interfund borrowing among the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund for financing benefit payments when necessary. (Currently, interfund borrowing is authorized through December 31, 1982.) Provides for the appointment to the Board of Trustees 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 of one representative of employers, one representative of employees, one representative of beneficiaries, and one representative highly qualified in the management of investment funds. Amends Part A (General Provisions) of title XI of the Social Security Act to: (1) exclude the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund and social security taxes from the totals of the Federal budget; and (2) exempt such items from any general statutory limitation on Federal expenditures and net lending. Requires that the Federal Supplementary Medical Insurance Trust Fund be treated as a separate item in the Federal budget with respect to new budget authority and budget outlays and recommended revenue levels for such fund. Amends title II of the Social Security Act to require the Secretary of the Treasury to implement procedures for identifying social security benefit checks issued under title II which have not been negotiated within one year and to credit the appropriate social security trust fund on a monthly basis for the amount of all unnegotiated benefit checks drawn on such trust fund. 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. 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 Senate

  summary · EN · 15 February 1983

  Open at official source

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