US Congress House Bill 370 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 7-0)
Status: Introduced on January 23 2013 - 25% progression, died in committee
Action: 2013-02-04 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]

Savings for Seniors Act of 2013 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish in the Federal Old-Age and Survivors Insurance Trust Fund a Social Security Surplus Protection Account to hold the Social Security surplus. Denies the availability of the balance in the Account for investment by the Managing Trustee. Establishes in the executive branch of Government a Social Security Investment Commission to study the most effective vehicles for investment of the Federal Old-Age and Survivors Insurance Trust Fund, other than investment in the form of U.S. obligations resulting in the transfer of Trust Fund assets to the general fund of the Treasury.

To amend title II of the Social Security Act to establish a Social Security Surplus Protection Account in the Federal Old-Age and Survivors Insurance Trust Fund to hold the Social Security surplus, to provide for suspension of investment of amounts held in the Account until enactment of legislation providing for investment of the Trust Fund in investment vehicles other than obligations of the United States, and to establish a Social Security Investment Commission to make recommendations for alternative forms of investment of the Social Security surplus in the Trust Fund.

Sen. Marsha Blackburn [R-TN]	Rep. Tim Griffin [R-AR]	Rep. Jeb Hensarling [R-TX]	Rep. Alan Nunnelee [R-MS]
Rep. Dennis Ross [R-FL]	Rep. Marlin Stutzman [R-IN]	Rep. Lynn Westmoreland [R-GA]

Date	Chamber	Action
2013-02-04	House	Referred to the Subcommittee on Social Security.
2013-01-23	House	Referred to the House Committee on Ways and Means.

HB1517 (Related) 2013-04-23 - Referred to the Subcommittee on Social Security.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/370/all-info
Text	https://www.congress.gov/113/bills/hr370/BILLS-113hr370ih.pdf