Social Security Trust Funds Management Act of 1999

Summary

Social Security Trust Funds Management Act of 1999 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act (SSA) to revise provisions on investment of the social security trust funds, with changes chiefly prohibiting the: (1) Managing Trustee of the Board of Trustees of the Trust Funds (the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund) (social security trust funds) from investing social security trust fund contributions in private financial markets; and (2) Managing Trustee or any other officer or employee of the Federal Government from directing private pension plans on what type of investments to make or in which financial markets to invest. Amends SSA title XI to modify the required contents of social security account statements, including changes requiring such statements to contain information on the name, age, gender, mailing address, and marital status of the eligible individual, as well as additional specified new contents. Revises provisions on the mandatory provision of such statements, with changes to incorporate the Internet as a means of provision as soon as the Commissioner of Social Security determines that adequate confidentiality safeguards are in place. Replaces each reference to the Secretary with the Commissioner of Social Security each place such reference occurs in SSA title XI provisions on social security account statements.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 March 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 March 1999

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• Introduced in Senate

  summary · EN · 16 March 1999

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