,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #gbfi  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,decemb] #ab1         
#bjah,mr4 ,sam ,johnson ( ,texas        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d title ,,ii ( ! ,social 
,security ,act to make ! ,social        
,security ,tru/ees ,report process m    
acc\ntable & transp>5t1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,social ,security ,tru/ees 
,report ,acc\ntability1 ,transp>5cy1 &  
,improvem5t ,act ( #bjah4  #b4          
,managem5t ( ! tru/ funds ,section      
#bja7;c7 ( ! ,social ,security ,act is  
am5d$ to read z foll[s3  7c7  7#a7 ,)   
respect to ! ,f$]al ,old-,age &         
,survivors ,insurance ,tru/ ,fund & !   
,f$]al ,disability ,insurance ,tru/     
,fund 7h]e9aft] 9 ?is title call$ !     
,tru/ ,funds7 !re is h]eby creat$ a body
 to be kn[n z ! ,bo>d ( ,tru/ees ( !    
,tru/ ,funds 7h]e9aft] 9 ?is title call$
 ! ,bo>d ( ,tru/ees7 :i* ,bo>d (        

,tru/ees %all be compos$ ( !            
,commission] ( ,social ,security1 !     
,secret>y ( ! ,treasury1 ! ,secret>y (  
,labor1 & ! ,secret>y ( ,heal? & ,human 
,s]vices1 all ex (ficio1 & ( f\r memb]s 
( ! public 7h]e9aft] 9 ?is title call$  
public tru/ees71 to be appo9t$ 9        
accordance ) p>agraph 7#b74 ,! ,secret>y
 ( ! ,treasury %all be ! ,manag+ ,tru/ee
 ( ! ,bo>d ( ,tru/ees 7h]e9aft] 9 ?is   
title call$ ! ,manag+ ,tru/ee74 ,!      
,deputy ,commission] ( ,social ,security
 %all s]ve z ,secret>y ( ! ,bo>d (      
,tru/ees4 ,! ,bo>d ( ,tru/ees %all meet 
n less frequ5tly ?an once ea* cal5d>    
ye>4 ,a p]son s]v+ on ! ,bo>d ( ,tru/ees
 %all n be consid]$ to be a fiduci>y &  
%all n be p]sonally liable = actions    
tak5 9 su* capacity ) respect to ! ,tru/
 ,funds4  4  #c4 ,appo9tm5t & t]ms (    
public tru/ees ,section #bja7;c7 ( !    
,social ,security ,act1 z am5d$ by      
section #b1 is fur!r am5d$ by add+ at ! 
end ! foll[+3  7#b7  7,a7 ,public       
tru/ees %all be appo9t$ z foll[s3 7i7   

,two memb]s 7ea* memb] f a diff]5t      
political p>ty7 %all be appo9t$ by !    
,presid5t pro tempore ( ! ,s5ate ) !    
advice ( ! ,*airman & ! ,rank+ ,m9ority 
,memb] ( ! ,s5ate ,committee on ,f9ance4
  7ii7 ,two memb]s 7ea* memb] f a       
diff]5t political p>ty7 %all be appo9t$ 
by ! ,speak] ( ! ,h\se (                
,repres5tatives1 ) ! advice ( ! ,*airman
 & ! ,rank+ ,m9ority ,memb] ( ! ,h\se   
,committee on ,ways & ,means  7,b7  7i7 
,except z provid$ 9 clause 7iii71 ea*   
public tru/ee %all s]ve = a t]m beg9n+  
on ! day aft] ! expiration ( ! t]m ( su*
 memb]'s pr$ecessor & expir+ on ! f\r?  
,april #a occurr+ dur+ su* t]m 7or1 if  
lat]1 ! date on :i* ! f\r? report ( !   
,bo>d is issu$ "u p>agraph 7#c77;,a77ii7
 dur+ su* t]m74  7ii7 ,a public tru/ee  
may n s]ve m ?an two consecutive full   
t]ms4 ,a public tru/ee nom9at$ &        
confirm$ to fill a vacancy occurr+ dur+ 
a t]m %all be nom9at$ & confirm$ only = 
! rema9d] ( su* t]m4  7iii7 ,clause 7i7 
%all be appli$ ) respect to initial     

appo9tm5ts "u ?is p>agraph-- 7,i7 by    
sub/itut+ fir/ = f\r? ea* place x appe>s
 9 clause 7i7 ) respect to "o ( ! public
 tru/ees appo9t$ by ! ,presid5t pro     
tempore ( ! ,s5ate 7z designat$ by !    
,presid5t pro tempore ( ! ,s5ate at ! "t
 ( nom9ation72  7,,ii7 by sub/itut+     
second = f\r? ea* place x appe>s 9      
clause 7i7 ) respect to "o ( ! public   
tru/ees appo9t$ by ! ,speak] ( ! ,h\se (
 ,repres5tatives 7z designat$ by !      
,speak] ( ! ,h\se ( ,repres5tatives at !
 "t ( nom9ation72 &  7,,iii7 by         
sub/itut+ ?ird = f\r? ea* place x appe>s
 9 clause 7i7 ) respect to "o ( ! public
 tru/ees appo9t$ by ! ,presid5t pro     
tempore ( ! ,s5ate 7z designat$ by !    
,presid5t pro tempore ( ,s5ate at ! "t (
 nom9ation74  4  #d4 ,duties ( ! ,bo>d &
 ! public tru/ees ,section #bja7;c7 ( ! 
,social ,security ,act1 z am5d$ by      
sections #b & #c1 is fur!r am5d$ by add+
 at ! end ! foll[+3  7#c7  7,a7 ,x %all 
be ! duty ( ! ,bo>d ( ,tru/ees to-- 7i7 
hold ! ,tru/ ,funds2  7ii7 report to !  

,congress n lat] ?an ! fir/ day ( ,april
 ( ea* ye> on ! op]ation & /atus ( !    
,tru/ ,funds dur+ ! prec$+ cal5d> ye> 7&
 dur+ ! prec$+ fiscal ye>7 & on _!      
expect$ op]ation & /atus dur+ ! next    
ensu+ #ge cal5d> ye>s 7& dur+ ! next    
ensu+ #ge fiscal ye>s72  7iii7 report   
imm$iately to ! ,congress :5ev] ! ,bo>d 
( ,tru/ees is ( ! op9ion t ! am\nt (    
ei!r ( ! ,tru/ ,funds is unduly small2  
7iv7 recomm5d improvem5ts 9 adm9i/rative
 proc$ures & policies design$ to        
effectuate ! prop] coord9ation ( !      
,old-,age1 ,survivors1 & ,disability    
,insurance program & ! ,f$]al-,/ate     
unemploym5t comp5sation program2 &  7v7 
review ! g5]al policies foll[$ 9 manag+ 
! ,tru/ ,funds1 & recomm5d *anges 9 su* 
policies1 includ+ necess>y *anges 9 !   
provisions ( ! law :i* gov]n ! way 9 :i*
 ! ,tru/ ,funds are to be manag$4  7,b7 
,x %all be ! duty ( ! public tru/ees    
to-- 7i7 9 any case 9 :i* ! ,bo>d (     
,tru/ees det]m9es t ! report provid$ = 9
 subp>agraph 7,a77ii7 w n be complet$ by

 ! fir/ day ( ,april1 to provide writt5 
notification ( ! expect$ issue date to !
 ,committee on ,ways & ,means ( ! ,h\se 
( ,repres5tatives & ! ,committee on     
,f9ance ( ! ,s5ate n lat] ?an ! fir/ day
 ( ,m>*1 & writt5 notification ( an     
updat$ expect$ issue date n lat] ?an #ad
 days prior to ! issue date2 &  7ii7 at 
! "t su* report is issu$1 report to !   
,congress respond+ to recomm5dations f !
 ,social ,security ,advisory ,bo>d      
receiv$ dur+ ! previ\s ye> reg>d+ !     
te*niques1 me?odologies1 actu>ial       
assumptions1 & co/ e/imates us$ 9 su*   
report4  4  #e4 ,tru/ees report ,section
 #bja7;c7 ( ! ,social ,security ,act1 z 
am5d$ by sections #b1 #c1 & #d1 is fur!r
 am5d$ by add+ at ! end ! foll[+3  7#d7 
,! report provid$ = 9 p>agraph          
7#c77;,a77ii7 %all include ! foll[+3    
7,a7 ,a /atem5t ( ! assets (1 & !       
disbursem5ts made f1 ! ,tru/ ,funds dur+
 ! prec$+ cal5d> ye> 7& dur+ ! prec$+   
fiscal ye>7 & an e/imate ( ! expect$    
future income to1 & disbursem5ts to be  

made f1 ! ,tru/ ,funds dur+ ea* ( ! next
 ensu+ #ge cal5d> ye>s 7& dur+ ! next   
ensu+ #ge fiscal ye>s74  7,b7 ,a /atem5t
 ( ! actu>ial /atus ( ! ,tru/ ,funds1   
includ+-- 7i7 a f9d+ by ! ,bo>d (       
,tru/ees z to :e!r ! ,f$]al ,old-,age & 
,survivors ,insurance ,tru/ ,fund & !   
,f$]al ,disability ,insurance ,tru/     
,fund1 individually & collectively1 are 
9 close actu>ial balance 7z def9$ by !  
,bo>d ( ,tru/ees72 &  7ii7 an actu>ial  
op9ion by ! ,*ief ,actu>y ( ! ,social   
,security ,adm9i/ration c]tify+ t !     
te*niques & me?odologies us$ are g5]ally
 accept$ )9 ! actu>ial pr(ession & t !  
assumptions & co/ e/imates us$ are      
reasonable4  7,c7 ,an assessm5t ( !     
previ\s annual report made 9 ! fir/     
cal5d> ye> ( ! #aj-;cal5d> ye> p]iod    
end+ on ! fir/ day ( ! cal5d> ye> 9 :i* 
su* report is made comp>+ ! project$    
values 9 su* previ\s annual report ( ea*
 demographic & economic assumption made 
= ea* ( ! #aj cal5d> ye>s 9 su* p]iod ) 
! actual data available ) respect to ea*

 su* assumption = ea* su* cal5d> ye>4   
7,d7 ,an actu>ial analysis ( ! b5efit   
disbursem5ts made f ! ,f$]al ,old-,age &
 ,survivors ,insurance ,tru/ ,fund )    
respect to disabl$ b5efici>ies4  ,su*   
report %all be pr9t$ z a ,h\se docum5t (
 ! session ( ! ,congress to :i* ! report
 is made4 ,su* report %all also include 
! full names ( ! att5dees ( ! ,tru/ees  
,work+ ,gr\p dur+ ! report's developm5t4
  4  #f4 ,effective date ,! am5dm5ts    
make by ?is ,act %all apply ) respect to
 public tru/ees appo9t$ = t]ms beg9n+   
aft] ,april #a1 #bjai1 & ) respect to   
reports issu$ = fiscal ye>s aft] #bjah4