H.R. 4965 · 109th Congress
Social Security Trust Funds Investment Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GohmertSponsorNo cosponsors.
Social Security Trust Funds Investment Act of 2006 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the duty of the Board of Trustees of the Social Security Trust Funds is to hold the Funds.
What it does: CRS summary · Introduced in House · Mar 15, 2006
Social Security Trust Funds Investment Act of 2006 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the duty of the Board of Trustees of the Social Security Trust Funds is to hold the Funds. Specifies that it is a duty to hold the Funds in trust for the beneficiaries and to ensure that the assets of the Funds are not diverted.
Authorizes investment of the Funds in securities that are not limited to obligations of the United States or obligations guaranteed as to principal and interest by the United States. Allows investment in such other securities as the Board of Trustees may consider prudent investments.
Requires the Board of Trustees to exercise the judgment and care under the circumstances then prevailing that persons of ordinary prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Social Security Trust Funds Investment Act of 2006
Latest action (Mar 15, 2006): Referred to the House Committee on Ways and Means.
Policy area: Social Welfare · Origin: House · Introduced: Mar 15, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.