HR 3497 · 107th Congress 2001–2003, ended

Social Security Guarantee Plus Act of 2001

Introduced Dec 13, 2001 Originated House Sponsor E. Clay Shaw Jr. R-FL

Fact sheet

Latest action · Dec 14, 2001 Sponsor introductory remarks on measure. (CR E2307-2308)

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedDec 13, 2001
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Social Security Guarantee Plus Act of 2001 - Amends the Internal Revenue Code (IRC) and title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to establish a Social Security Guarantee Program, to be administered by a Social Security Guarantee Board established within the Social Security Administration. Authorizes any individual age 18 with a Social Security number to elect to enroll as a covered individual and receive in the Social Security guarantee account established for him or her by the Board a calendar year payment of Social Security guarantee refundable credits and interest.

Requires designation of a certified account manager by or on behalf of each covered individual to hold the individual's Social Security guarantee account assets for investment, including in common stock portfolios and fixed income securities.

Amends the IRC to make the Social Security guarantee accounts benefits taxable as Social Security benefits.

Amends SSA title II to: (1) repeal the limitation on the amount of outside income which beneficiaries age 62 or over may earn (earnings test) without incurring a reduction in benefits; (2) increase widow's and widower's insurance benefits; (3) provide for benefits for disabled widows and widowers without regard to age; (4) repeal the seven year restriction on eligibility for widow's and widower's insurance benefits based on disability; (5) waive the two-year waiting period for a divorced spouse's benefits if the other spouse remarries; (6) increase the amount of wages and self-employment income credited to years taken into account for beneficiaries precluded from remunerative work by the needs of child care; and (7) reduce the Government pension offset.

Directs the Secretary of the Treasury to issue a certificate, representing a legally enforceable guarantee of full Social Security benefits with accurate annual cost-of-living adjustment, to each individual entitled to monthly insurance benefits under SSA title II.

Cosponsors 6

Members who signed on, in the order they did. Signatures ran from Dec 13, 2001 to Nov 12, 2002, with 3 there on the day it was introduced.

Seat	Cosponsor		Signed on
R-IL	Jerry Weller	Original	Dec 13, 2001
R-FL	Mark Foley	Original	Dec 13, 2001
R-KY	Ron Lewis	Original	Dec 13, 2001
R-MI	Nick Smith		Mar 12, 2002
R-SC	Henry E. Brown, Jr.		Jun 21, 2002
R-GA	Charles W. Norwood		Nov 12, 2002

Actions 3

Everything that happened, newest first.

Dec 14, 2001Sponsor introductory remarks on measure. (CR E2307-2308)
Dec 13, 2001Introduced in House
Dec 13, 2001Referred to the House Committee on Ways and Means.

Related bills 1

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
HRES 425	Providing for the consideration of the bill (H.R. 3497) to amend the Social Security Act and the Internal Revenue Code of 1986 to preserve and strengthen the Social Security Program through the creation of personal Social Security guarantee accounts ensur	Procedurally related	Jun 19, 2002

Subjects

Assigned by the Library of Congress. Policy area: Social Welfare.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.