,,ii #aafth ,,congress #ast ,session ,s4 #bfi ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,january #cj1 #bjai ,mr4 ,blumenthal 7for himself and ,mr4 ,van ,hollen7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to protect our ,social ,security system and improve benefits for current and future generations4 #a4 ,short title ,this ,act may be cited as the ,social ,security #bajj ,act4 #b4 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title4 ,sec4 #b4 ,table of contents4 ,title ,i--,strengthening ,benefits ,sec4 #aja4 ,across-the-board benefit increase4 ,sec4 #ajb4 ,more accurate cost-of-living adjustment for ,social ,security beneficiaries4 ,sec4 #ajc4 ,increase in minimum benefit for lifetime low earners based on years in the workforce4 ,sec4 #ajd4 ,increase in threshold amounts and rate for inclusion of ,social ,security benefits in income4 ,sec4 #aje4 ,holding ,,ssi1 ,medicaid1 and ,,chip beneficiaries harmless4 ,title ,,ii--,strengthening the ,trust ,fund ,sec4 #bja4 ,determination of wages and self-employment income above contribution and benefit base after #bjai4 ,sec4 #bjb4 ,inclusion of earnings over #djj1jjj in ,social ,security benefit formula4 ,sec4 #bjc4 ,adjustment to the ,social ,security insurance contribution4 ,sec4 #bjd4 ,social ,security ,trust ,fund established4 ,i ,strengthening ,benefits #aja4 ,across-the-board benefit increase 7a7 ,in general ,section #bae7;a77#a77;,a77i7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;a77#a77;,a77i77 is amended by striking #ij percent and inserting #ic percent4 7b7 ,effective date 7#a7 ,in general ,the amendment made by subsection 7a7 shall apply with respect to monthly insurance benefits payable for any month after ,december #bjai4 7#b7 ,recomputation of primary insurance amounts ,notwithstanding section #bae7;f7 of the ,social ,security ,act1 the ,commissioner of ,social ,security shall recompute primary insurance amounts originally computed for months prior to ,january #bjbj to the extent necessary to carry out the amendments made by this section4 #ajb4 ,more accurate cost-of-living adjustment for ,social ,security beneficiaries 7a7 ,in general ,section #bae7;i77#a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;i77#a77 is amended by adding at the end the following new subparagraph3 7,h7 the term ,consumer ,price ,index means the ,consumer ,price ,index for ,elderly ,consumers 7,,cpi-,e1 as published by the ,bureau of ,labor ,statistics of the ,department of ,labor74 4 7b7 ,application to pre-#aigi law 7#a7 ,in general ,section #bae7;i77#a7 of the ,social ,security ,act as in effect in ,december #aigh1 and as applied in certain cases under the provisions of such ,act as in effect after ,december #aigh1 is amended by adding at the end the following new subparagraph3 7,d7 the term ,consumer ,price ,index means the ,consumer ,price ,index for ,elderly ,consumers 7,,cpi-,e1 as published by the ,bureau of ,labor ,statistics of the ,department of ,labor74 4 7#b7 ,conforming change ,section #bae7;i77#d7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;i77#d77 is amended by inserting and by section #ajb of the ,social ,security #bajj ,act after #aihf4 7c7 ,no effect on adjustments under other laws ,section #bae7;i7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;i77 is amended by adding at the end the following3 7#f7 ,any provision of law 7other than in this title1 title ,,viii1 or title ,,xvi7 which provides for adjustment of an amount based on a change in benefit amounts resulting from a determination made under this subsection shall be applied and administered without regard to the amendments made by subsections 7a7 and 7b7 of section #ajb of the ,social ,security #bajj ,act4 4 7d7 ,publication of ,consumer ,price ,index for ,elderly ,consumers ,the ,bureau of ,labor ,statistics of the ,department of ,labor shall prepare and publish an index for each calendar month to be known as the ,consumer ,price ,index for ,elderly ,consumers that indicates changes over time in expenditures for consumption which are typical for individuals in the ,united ,states who have attained age #fb4 7e7 ,effective date ,the amendments made by this section shall apply to determinations made with respect to cost-of-living computation quarters 7as defined in section #bae7;i77#a77;,b7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;i77#a77;,b777 ending on or after ,september #cj of the calendar year in which this ,act is enacted4 #ajc4 ,increase in minimum benefit for lifetime low earners based on years in the workforce 7a7 ,in general ,section #bae7;a77#a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;a77#a77 is amended-- 7#a7 by redesignating subparagraph 7,d7 as subparagraph 7,e72 and 7#b7 by inserting after subparagraph 7,c7 the following new subparagraph3 7,d7 7i7 ,effective with respect to the benefits of individuals who become eligible for old-age insurance benefits or disability insurance benefits 7or die before becoming so eligible7 after #bjai1 no primary insurance amount computed under subparagraph 7,a7 may be less than the greater of-- 7,i7 the minimum monthly amount computed under subparagraph 7,c72 or 7,,ii7 in the case of an individual who has more than #aj years of work 7as defined in clause 7iv77,i771 the alternative minimum amount determined under clause 7ii74 7ii7 7,i7 ,the alternative minimum amount determined under this clause is the applicable percentage of #a_/ab of the annual dollar amount determined under clause 7iii7 for the year in which the amount is determined4 7,,ii7 ,for purposes of subclause 7,i71 the applicable percentage is the percentage specified in connection with the number of years of work1 as set forth in the following table3 ,if the number of years,the applicable of work is3percentage is3 #aaf4be percent #abab4ej percent #acah4ge percent #adbe4jj percent #aeca4be percent #afcg4ej percent #agdc4ge percent #ahej4jj percent #aief4be percent #bjfb4ej percent #bafh4ge percent #bbge4jj percent #bcha4be percent #bdhg4ej percent #beic4ge percent #bfajj4jj percent #bgajf4be percent #bhaab4ej percent #biaah4ge percent #cj or more#abe4jj percent4 7iii7 ,the annual dollar amount determined under this clause is-- 7,i7 for calendar year #bjbj1 the poverty guideline for #bjai2 and 7,,ii7 for any calendar year after #bjbj1 the annual dollar amount for #bjbj multiplied by the ratio of-- 7aa7 the national average wage index 7as defined in section #bji7k77#a77 for the second calendar year preceding the calendar year for which the determination is made1 to 7bb7 the national average wage index 7as so defined7 for #bjah4 7iv7 ,for purposes of this subparagraph-- 7,i7 the term year of work means1 with respect to an individual1 a year to which #d quarters of coverage have been credited based on such individual's wages and self-employment income2 and 7,,ii7 the term poverty guideline for #bjai means the annual poverty guideline for #bjai 7as updated annually in the ,federal ,register by the ,department of ,health and ,human ,services under the authority of section #fgc7b7 of the ,omnibus ,budget ,reconciliation ,act of #aiha7 as applicable to a single individual4 4 7b7 ,recomputation ,notwithstanding section #bae7;f77#a7 of the ,social ,security ,act1 the ,commissioner of ,social ,security shall recompute primary insurance amounts originally computed for months prior to ,november #bjai to the extent necessary to carry out the amendments made by this section4 7c7 ,conforming amendment ,section #bji7k77#a7 of such ,act 7#db ,u4,s4,c4 #dji7k77#a77 is amended by inserting #bae7;a77#a77;,e71 after #bae7;a77#a77;,d714 #ajd4 ,increase in threshold amounts and rate for inclusion of ,social ,security benefits in income 7a7 ,in general ,subsection 7a7 of section #hf of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7a7 ,in general ,gross income for the taxable year of any taxpayer described in subsection 7b7 7notwithstanding section #bjg of the ,social ,security ,act7 includes ,social ,security benefits in an amount equal to the lesser of-- 7#a7 #he percent of the ,social ,security benefits received during the taxable year1 or 7#b7 one-half of the excess described in subsection 7b77#a74 4 7b7 ,base amount ,subsection 7c7 of section #hf of such ,code is amended to read as follows3 7c7 ,base amount ,for purposes of this section1 the term base amount means-- 7#a7 except as otherwise provided in this paragraph1 #ej1jjj1 7#b7 #ajj1jjj in the case of a joint return1 and 7#c7 zero in the case of a taxpayer who-- 7,a7 is married as of the close of the taxable year 7within the meaning of section #ggjc7 but does not file a joint return for such year1 and 7,b7 does not live apart from his spouse at all times during the taxable year4 4 7c7 ,hospital ,insurance ,trust ,fund held harmless ,section #aba7;e77#a7 of the ,social ,security ,amendments of #aihf 7#db ,u4,s4,c4 #dja note7 is amended by adding at the end the following new subparagraph3 7,c7 ,the amounts appropriated to the hospital insurance trust fund by subparagraph 7,b7 shall be determined1 and transferred from the general fund1 at such times and in such manner so as to replicate1 to the extent possible1 the appropriations and transfers which would have occurred with respect to such trust fund had subsections 7a7 and 7b7 of section #ajd of the ,social ,security #bajj ,act not been enacted4 4 7d7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 #aje4 ,holding ,,ssi1 ,medicaid1 and ,,chip beneficiaries harmless ,for purposes of determining the income of an individual to establish eligibility for1 and the amount of1 benefits payable under title ,,xvi of the ,social ,security ,act1 eligibility for medical assistance under the ,state plan under title ,,xix 7or a waiver of such plan71 or eligibility for child health assistance under the ,state child health plan under title ,,xxi 7or a waiver of the plan71 the amount of any benefit to which the individual is entitled under title ,,ii of such ,act shall be deemed not to exceed the amount of the benefit that would be determined for such individual under such title as in effect on the day before the date of the enactment of this ,act4 ,,ii ,strengthening the ,trust ,fund #bja4 ,determination of wages and self-employment income above contribution and benefit base after #bjai 7a7 ,determination of wages above contribution and benefit base after #bjai 7#a7 ,amendments to the ,internal ,revenue ,code 7,a7 ,in general ,paragraph 7#a7 of section #caba7;a7 of the ,internal ,revenue ,code of #aihf is amended by inserting after such calendar year4 the following3 ,the preceding sentence shall apply only to calendar years for which the contribution and benefit base 7as so determined7 is less than #djj1jjj1 and1 for such calendar years1 only to the extent remuneration paid to such employee by such employer with respect to employment does not exceed #djj1jjj44 7,b7 ,conforming amendment ,paragraph 7#a7 of section #caba7;a7 of the ,internal ,revenue ,code of #aihf is amended by striking ,act7 to and inserting ,act71 or in excess of #djj1jjj1 to4 7#b7 ,amendment to the ,social ,security ,act ,section #bji7;a77#a77;,i7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dji7;a77#a77;,i77 is amended by inserting before the semicolon at the end the following3 except that this subparagraph shall apply only to calendar years for which the contribution and benefit base 7as so determined7 is less than #djj1jjj1 and1 for such calendar years1 only to the extent remuneration paid to such employee by such employer with respect to employment does not exceed #djj1jjj4 7#c7 ,effective date ,the amendments made by this subsection shall apply with respect to remuneration paid in calendar years after #bjai4 7b7 ,determination of self-,employment income above contribution and benefit base after #bjai 7#a7 ,amendments to the ,internal ,revenue ,code 7,a7 ,in general ,paragraph 7#a7 of section #adjb7;b7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7#a7 in the case of the tax imposed by section #adja7;a71 an amount equal to-- 7,a7 #djj1jjj1 reduced 7but not below zero7 by 7,b7 the sum of-- 7i7 the part of the net earnings from self-employment 7if any7 which is not in excess of-- 7,i7 the amount equal to the contribution and benefit base 7as determined under section #bcj of the ,social ,security ,act7 which is effective for the calendar year in which such taxable year begins1 minus 7,,ii7 the amount of the wages paid to such individual during such taxable year1 plus 7ii7 the amount of the wages paid to such individual during such taxable year which is in excess of the amount in clause 7i77,i72 or 4 7,b7 ,phaseout ,subsection 7b7 of section #adjb of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following3 ,paragraph 7#a7 shall apply only to taxable years beginning in calendar years for which the contribution and benefit base 7as determined under section #bcj of the ,social ,security ,act7 is less than #djj1jjj44 7#b7 ,amendments to the ,social ,security ,act 7,a7 ,in general ,section #baa7;b77#a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #daa7;b77 is amended-- 7i7 in subparagraph 7,i7-- 7,i7 by inserting and before #bjai after #aigd2 and 7,,ii7 by striking or at the end2 and 7ii7 by adding at the end the following3 7,j7 ,for any taxable year beginning in any calendar year after #bjai1 an amount equal to-- 7i7 #djj1jjj1 reduced 7but not below zero7 by 7ii7 the sum of-- 7,i7 the part of the net earnings from self-employment 7if any7 which is not in excess of-- 7aa7 the amount equal to the contribution and benefit base 7as determined under section #bcj7 which is effective for the calendar year in which such taxable year begins1 minus 7bb7 the amount of the wages paid to such individual during such taxable year1 plus 7,,ii7 the amount of the wages paid to such individual during such taxable year which is in excess of the amount in subclause 7,i77aa72 or 4 7,b7 ,phaseout ,section #baa7;b7 of the ,social ,security ,act 7#db ,u4,s4,c4 #daa7;b77 is amended by adding at the end the following3 ,paragraph 7#a7 shall apply only to taxable years beginning in calendar years for which the contribution and benefit base 7as determined under section #bcj7 is less than #djj1jjj44 7#c7 ,effective date ,the amendments made by this subsection shall apply to net earnings from self-employment derived1 and remuneration paid1 in calendar years after #bjai4 #bjb4 ,inclusion of earnings over #djj1jjj in ,social ,security benefit formula 7a7 ,inclusion of earnings over #djj1jjj in determination of primary insurance amounts ,section #bae7;a77#a77;,a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;a77#a77;,a77 is amended-- 7#a7 in clause 7ii71 by striking and at the end2 7#b7 in clause 7iii71 by inserting and at the end2 and 7#c7 by inserting after clause 7iii7 the following3 7iv7 #b percent of the individual's excess average indexed monthly earnings 7as defined in subsection 7b77#e77;,a774 4 7b7 ,definition of excess average indexed monthly earnings ,section #bae7;b7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;b77 is amended-- 7#a7 by striking wages and self-employment income each place such terms appear and inserting basic wages and basic self-employment income1 respectively2 and 7#b7 by adding at the end the following3 7#e7 7,a7 ,an individual's excess average indexed monthly earnings shall be equal to the amount of the individual's average indexed monthly earnings that would be determined under this subsection by substituting excess wages for basic wages and excess self-employment income for basic self-employment income each place such terms appear in this subsection 7except in this paragraph74 7,b7 ,for purposes of this subsection-- 7i7 the term basic wages means that portion of the wages of an individual paid in a year that does not exceed the contribution and benefit base for the year2 7ii7 the term basic self-employment income means that portion of the self-employment income of an individual credited to a year that does not exceed an amount equal to the contribution and benefit base for the year minus the amount of the wages paid to the individual in the year2 7iii7 the term excess wages means that portion of the wages of an individual paid in a year after #bjai in excess of the higher of #djj1jjj or the contribution and benefit base for the year2 and 7iv7 the term excess self-employment income means that portion of the self-employment income of an individual credited to a year after #bjai in excess of the higher of #djj1jjj or such contribution and benefit base4 4 7c7 ,conforming amendment ,section #bae7;e77#a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dae7;e77#a77 is amended by inserting and before #bjbj after after #aigd4 7d7 ,effective date ,the amendments made by this section shall apply with respect to individuals who initially become eligible 7within the meaning of section #bae7;a77#c77;,b7 of the ,social ,security ,act7 for old-age or disability insurance benefits under title ,,ii of the ,social ,security ,act1 or who die 7before becoming eligible for such benefits71 in any calendar year after #bjai4 #bjc4 ,adjustment to the ,social ,security insurance contribution 7a7 ,tax on ,employees ,subsection 7a7 of section #caja of the ,internal ,revenue ,code of #aihf is amended by striking #f4b percent of the wages 7as defined in section #caba7;a77 received by the individual with respect to employment 7as defined in section #caba7;b77 and inserting the following percentages of the wages 7as defined in section #caba7;a77 received by the individual with respect to employment 7as defined in section #caba7;b773 ,in cases of wages,the rate of tax received during3shall be3 any calendar year after #aihi and before #bjbjf4bj percent #bjbjf4be percent #bjbaf4cj percent #bjbbf4ce percent #bjbcf4dj percent #bjbdf4de percent #bjbef4ej percent #bjbff4ee percent #bjbgf4fj percent #bjbhf4fe percent #bjbif4gj percent #bjcjf4ge percent #bjcaf4hj percent #bjcbf4he percent #bjccf4ij percent #bjcdf4ie percent #bjceg4jj percent #bjcfg4je percent #bjcgg4aj percent #bjchg4ae percent #bjcig4bj percent #bjdjg4be percent #bjdag4cj percent #bjdbg4ce percent any calendar year after #bjdbg4dj percent4 4 7b7 ,tax on ,employers ,subsection 7a7 of section #caaa of the ,internal ,revenue ,code of #aihf is amended by striking #f4b percent of the wages 7as defined in section #caba7;a77 paid by the employer with respect to employment 7as defined in section #caba7;b77 and inserting the following percentages of the wages 7as defined in section #caba7;a77 paid by the employer with respect to employment 7as defined in section #caba7;b773 ,in cases of wages,the rate of tax received during3shall be3 any calendar year after #aihi and before #bjbjf4bj percent #bjbjf4be percent #bjbaf4cj percent #bjbbf4ce percent #bjbcf4dj percent #bjbdf4de percent #bjbef4ej percent #bjbff4ee percent #bjbgf4fj percent #bjbhf4fe percent #bjbif4gj percent #bjcjf4ge percent #bjcaf4hj percent #bjcbf4he percent #bjccf4ij percent #bjcdf4ie percent #bjceg4jj percent #bjcfg4je percent #bjcgg4aj percent #bjchg4ae percent #bjcig4bj percent #bjdjg4be percent #bjdag4cj percent #bjdbg4ce percent any calendar year after #bjdbg4dj percent4 4 7c7 ,self-,employment ,income ,subsection 7a7 of section #adja of the ,internal ,revenue ,code of #aihf is amended by striking #ab4d percent of the amount of the self-employment income for such taxable year and inserting the following percentages of the amount of the self-employment income for such taxable year3 ,in cases of wages,the rate of tax received during3shall be3 any calendar year after #aihi and before #bjbjab4dj percent #bjbjab4ej percent #bjbaab4fj percent #bjbbab4gj percent #bjbcab4hj percent #bjbdab4ij percent #bjbeac4jj percent #bjbfac4aj percent #bjbgac4bj percent #bjbhac4cj percent #bjbiac4dj percent #bjcjac4ej percent #bjcaac4fj percent #bjcbac4gj percent #bjccac4hj percent #bjcdac4ij percent #bjcead4jj percent #bjcfad4aj percent #bjcgad4bj percent #bjchad4cj percent #bjciad4dj percent #bjdjad4ej percent #bjdaad4fj percent #bjdbad4gj percent any calendar year after #bjdbad4hj percent4 4 7d7 ,effective date ,the amendments made by this section shall apply to remuneration received1 and taxable years beginning1 after ,december #ca1 #bjai4 #bjd4 ,social ,security ,trust ,fund established 7a7 ,in general ,section #bja7;a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dja7;a77 is amended to read as follows3 7a7 ,there is hereby created on the books of the ,treasury of the ,united ,states a trust fund to be known as the ,social ,security ,trust ,fund4 ,the ,social ,security ,trust ,fund shall consist of the securities held by the ,secretary of the ,treasury for the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and the amount standing to the credit of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund on the books of the ,treasury on ,january #a of the first calendar year beginning after the date of the enactment of section #bjd of the ,social ,security #bajj ,act1 which securities and amount the ,secretary of the ,treasury is authorized and directed to transfer to the ,social ,security ,trust ,fund1 and1 in addition1 such gifts and bequests as may be made as provided in subsection 7i77#a71 and such amounts as may be appropriated to1 or deposited in1 the ,social ,security ,trust ,fund as hereinafter provided4 ,there is hereby appropriated to the ,social ,security ,trust ,fund for the first fiscal year that begins after date of the enactment of section #bjd of the ,social ,security #bajj ,act1 and for each fiscal year thereafter1 out of any moneys in the ,treasury not otherwise appropriated1 amounts equivalent to #ajj percent of-- 7#a7 the taxes imposed by chapter #ba 7other than sections #caja7;b7 and #caaa7;b77 of the ,internal ,revenue ,code of #aihf with respect to wages 7as defined in section #caba of such ,code7 reported to the ,secretary of the ,treasury pursuant to subtitle ,f of the ,internal ,revenue ,code of #aihf1 as determined by the ,secretary of the ,treasury by applying the applicable rates of tax under such chapter 7other than sections #caja7;b7 and #caaa7;b77 to such wages1 which wages shall be certified by the ,commissioner of ,social ,security on the basis of the records of wages established and maintained by such ,commissioner in accordance with such reports2 and 7#b7 the taxes imposed by chapter #b 7other than section #adja7;b77 of the ,internal ,revenue ,code of #aihf with respect to self-employment income 7as defined in section #adjb of such ,code7 reported to the ,secretary of the ,treasury on tax returns under subtitle ,f of such ,code1 as determined by the ,secretary of the ,treasury by applying the applicable rate of tax under such chapter 7other than section #adja7;b77 to such self-employment income1 which self-employment income shall be certified by the ,commissioner of ,social ,security on the basis of the records of self-employment income established and maintained by the ,commissioner of ,social ,security in accordance with such returns4 ,the amounts appropriated by paragraphs 7#a7 and 7#b7 shall be transferred from time to time from the general fund in the ,treasury to the ,social ,security ,trust ,fund1 such amounts to be determined on the basis of estimates by the ,secretary of the ,treasury of the taxes1 specified in paragraphs 7#a7 and 7#b71 paid to or deposited into the ,treasury2 and proper adjustments shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or were less than the taxes specified in such paragraphs 7#a7 and 7#b74 ,all amounts transferred to the ,social ,security ,trust ,fund under the preceding sentence shall be invested by the ,managing ,trustee in the same manner and to the same extent as the other assets of the ,trust ,fund4 ,notwithstanding the preceding sentence1 in any case in which the ,secretary of the ,treasury determines that the assets of the ,trust ,fund would otherwise be inadequate to meet the ,trust ,fund's obligations for any month1 the ,secretary of the ,treasury shall transfer to the ,trust ,fund on the first day of such month the total amount which would have been transferred to the ,trust ,fund under this section as in effect on ,october #a1 #aiij2 and the ,trust ,fund shall pay interest to the general fund on the amount so transferred on the first day of any month at a rate 7calculated on a daily basis1 and applied against the difference between the amount so transferred on such first day and the amount which would have been transferred to the ,trust ,fund up to that day under the procedures in effect on ,january #a1 #aihc7 equal to the rate earned by the investments of the ,trust ,fund in the same month under subsection 7d74 4 7b7 ,required actuarial analysis ,section #bja7;c7 of the ,social ,security ,act is amended by striking the fourth sentence in the matter following paragraph 7#e7 and inserting the following3 ,such report shall also include actuarial analysis of the benefit cost with respect to disabled beneficiaries and their auxiliaries1 to retired beneficiaries and their auxiliaries1 and to survivor beneficiaries44 7c7 ,board of ,trustees 7#a7 ,board of ,trustees of ,social ,security ,trust ,fund ,section #bja7;c7 of the ,social ,security ,act1 as amended by subsection 7b7 of this section1 is further amended in the matter preceding paragraph 7#a7 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund 7hereinafter in this title called the ,trust ,funds7 and inserting the ,social ,security ,trust ,fund 7in this title referred to as the ,trust ,fund74 7#b7 ,continuity of ,board of ,trustees ,the ,board of ,trustees of the ,social ,security ,trust ,fund created by the amendment made by subsection 7a7 shall be a continuous body with the ,board of ,trustees of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund in operation prior to the effective date of such amendment4 ,individuals serving as members of the ,board of ,trustees of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund as of the effective date of such amendment shall serve the remainder of their term as members of the ,board of ,trustees of the ,social ,security ,trust ,fund4 7d7 ,conforming amendments related to ,social ,security ,trust ,fund 7#a7 ,amendment to section heading ,the section heading for section #bja of the ,social ,security ,act is amended to read as follows3 ,social ,security ,trust ,fund4 7#b7 ,board of ,trustees ,section #bja7;c7 of such ,act1 as amended by subsections 7b7 and 7c77#a71 is further amended-- 7,a7 in the matter preceding paragraph 7#a71 by striking ,board of ,trustees of the ,trust ,funds and inserting ,board of ,trustees of the ,trust ,fund2 7,b7 in paragraph 7#a71 by striking ,trust ,funds and inserting ,trust ,fund2 7,c7 in paragraph 7#b7-- 7i7 by striking ,trust ,funds and inserting ,trust ,fund2 and 7ii7 by striking their and inserting its2 7,d7 in paragraph 7#c71 by striking either of the ,trust ,funds and inserting the ,trust ,fund2 7,e7 in paragraph 7#e7-- 7i7 by striking managing the ,trust ,funds and inserting managing the ,trust ,fund2 and 7ii7 by striking ,trust ,funds are and inserting ,trust ,fund is2 7,f7 in the matter following paragraph 7#e71 by striking ,trust ,funds each place it appears and inserting ,trust ,fund2 and 7,g7 in the second sentence in the matter following paragraph 7#e71 by striking whether the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund1 individually and collectively1 are and inserting whether the ,social ,security ,trust ,fund is4 7#c7 ,investments ,section #bja of such ,act is amended in subsections 7d7 and 7e7 by striking ,trust ,funds each place it appears and inserting ,trust ,fund4 7#d7 ,crediting of interest and proceeds to ,trust ,funds ,section #bja7;f7 of such ,act is amended-- 7,a7 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund shall be credited to and form a part of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,disability ,insurance ,trust ,fund1 respectively and inserting the ,social ,security ,trust ,fund shall be credited to and form a part of the ,social ,security ,trust ,fund2 7,b7 by striking either of the ,trust ,funds and inserting the ,trust ,fund2 and 7,c7 by striking such ,trust ,fund and inserting the ,trust ,fund4 7#e7 ,administrative costs ,section #bja7;g7 of such ,act is amended-- 7,a7 in paragraph 7#a7-- 7i7 in subparagraph 7,a71 by striking ,of the amounts authorized to be made available out of the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund under the preceding sentence and all that follows through 7,public ,law #ajc-bif742 7ii7 in subparagraph 7,b77i7-- 7,i7 by striking subclauses 7,,ii7 and 7,,iii7 and inserting the following3 7,,ii7 the portion of such costs which should have been borne by the ,social ,security ,trust ,fund1 2 and 7,,ii7 by redesignating subclauses 7,,iv7 and 7,v7 as subclauses 7,,iii7 and 7,,iv72 7,b7 in paragraph 7#b7-- 7i7 by striking ,trust ,funds and inserting ,trust ,fund2 and 7ii7 by striking the last sentence2 and 7,c7 in paragraph 7#d71 by striking ,trust ,funds each place it appears and inserting ,trust ,fund4 7#f7 ,benefit payments ,section #bja7;h7 of such ,act is amended to read as follows3 7h7 ,all benefit payments required to be made under this title shall be made only from the ,social ,security ,trust ,fund4 4 7#g7 ,gifts ,section #bja7;i7 of such ,act is amended-- 7,a7 in paragraph 7#a71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 and 7,b7 in paragraph 7#b77;,b71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund4 7#h7 ,travel expenses ,section #bja7;j7 of such ,act is amended by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 or the ,federal ,disability ,insurance ,trust ,fund 7as determined appropriate by the ,commissioner of ,social ,security7 and inserting the ,social ,security ,trust ,fund4 7#i7 ,demonstration projects ,section #bja7k7 of such ,act is amended by striking the ,federal ,disability ,insurance ,trust ,fund and the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 as determined appropriate by the ,commissioner of ,social ,security and inserting the ,social ,security ,trust ,fund4 7#aj7 ,benefit checks ,section #bja7m7 of such ,act is amended-- 7,a7 in paragraph 7#b71 by striking each of the ,trust ,funds and inserting the ,social ,security ,trust ,fund2 7,b7 in paragraph 7#c71 by striking one of the ,trust ,funds and inserting the ,trust ,fund2 and 7,c7 by striking such ,trust ,fund each place it appears and inserting the ,trust ,fund4 7#aa7 ,conforming repeals 7,a7 ,in general ,section #bja of such ,act is amended by striking subsections 7b71 7l71 and 7n74 7,b7 ,redesignations ,section #bja of such ,act is further amended-- 7i7 by redesignating subsections 7c7 through 7j7 as subsections 7b7 through 7i71 respectively2 7ii7 by redesignating subsection 7k7 as subsection 7j72 and 7iii7 by redesignating subsection 7m7 as subsection 7k74 7,c7 ,references to redesignated sections 7i7 ,section #bja7;a7 of such ,act1 as amended by subsection 7a7 of this section1 is further amended-- 7,i7 by striking subsection 7i77#a7 and inserting subsection 7h77#a72 and 7,,ii7 by striking subsection 7d7 and inserting subsection 7c74 7ii7 ,section #aaca7;b77#a7 of such ,act is amended by striking section #bja7;g77#a7 and inserting section #bja7;f77#a74 7e7 ,other conforming amendments to ,social ,security ,act 7#a7 ,title ,,ii ,title ,,ii of the ,social ,security ,act 7#db ,u4,s4,c4 #dja et seq47 is amended-- 7,a7 in section #bjb7x77#c77;,b77iii71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund1 as appropriate1 and inserting the ,social ,security ,trust ,fund2 7,b7 in section #bjf7;d77#e71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund1 as appropriate and inserting the ,social ,security ,trust ,fund2 7,c7 in section #bjf7;e77#c77;,b71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 7,d7 in section #bjh7;b77#e77;,a71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund1 as appropriate and inserting the ,social ,security ,trust ,fund2 7,e7 in section #bae7;i77#a77;,f7-- 7i7 in clause 7i7-- 7,i7 by striking the combined balance in the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting the balance in the ,social ,security ,trust ,fund2 and 7,,ii7 by striking and reduced by the outstanding amount of any loan 7including interest thereon7 theretofore made to either such ,fund from the ,federal ,hospital ,insurance ,trust ,fund under section #bja7l72 and 7ii7 in clause 7ii7-- 7,i7 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 and 7,,ii7 by striking 7other than payments and all that follows through from that ,account2 7,f7 in section #bag7;g77#b71 by inserting after the first sentence the following3 ,for purposes of any such revision of the amount determined under paragraph 7#a7 that occurs in a year after #bjae1 any reference in such paragraph to the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund shall be deemed to be a reference to the ,social ,security ,trust ,fund42 7,g7 in section #bba7;e7-- 7i7 by striking ,trust ,funds each place it appears and inserting ,trust ,fund2 and 7ii7 by striking the last sentence2 7,h7 in section #bba7;f71 by striking ,trust ,funds and inserting ,trust ,fund2 7,i7 in section #bbb7;d7-- 7i7 in the section heading1 by striking ,trust ,funds and inserting ,trust ,fund2 7ii7 in paragraph 7#a71 by striking to the end that savings will accrue to the ,trust ,funds as a result of rehabilitating such individuals1 there are authorized to be transferred from the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting to the end that savings will accrue to the ,trust ,fund as a result of rehabilitating such individuals1 there are authorized to be transferred from the ,social ,security ,trust ,fund2 and 7iii7 by amending paragraph 7#d7 to read as follows3 7#d7 ,the ,commissioner of ,social ,security shall determine according to such methods and procedures as the ,commissioner may deem appropriate the total amount to be reimbursed for the cost of services under this subsection4 2 7,j7 in section #bbh7;g7-- 7i7 in the section heading1 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7ii7 in the matter preceding paragraph 7#a71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 7,k7 in section #bca7;c71 by striking ,trust ,funds each place it appears and inserting ,trust ,fund2 and 7,l7 in section #bcd7;a77#a71 by striking ,trust ,funds and inserting ,trust ,fund4 7#b7 ,title ,,vii ,title ,,vii of the ,social ,security ,act 7#db ,u4,s4,c4 #ija et seq47 is amended-- 7,a7 in section #gjc7;j71 by striking ,federal ,disability ,insurance ,trust ,fund1 the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 and inserting ,social ,security ,trust ,fund2 7,b7 in section #gjh7;c71 by striking the ,,oasdi trust fund ratio under section #bja7l71 after computing2 7,c7 in section #gji-- 7i7 in subsection 7a71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7ii7 in subsection 7b7-- 7,i7 in paragraph 7#a71 by striking section #bja7l7 or2 and 7,,ii7 in paragraph 7#b71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7,d7 in section #gaj-- 7i7 in subsection 7a71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7ii7 in subsection 7b7-- 7,i7 by striking any ,trust ,fund specified in subsection 7a7 and inserting the ,social ,security ,trust ,fund2 and 7,,ii7 by striking payments from any such ,trust ,fund and inserting payments from the ,social ,security ,trust ,fund4 7#c7 ,title ,,xi ,title ,,xi of the ,social ,security ,act 7#db ,u4,s4,c4 #acja et seq47 is amended-- 7,a7 in section #aajf7;b71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 7,b7 in section #aabi7;e77#b77;,a71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund1 as determined appropriate by the ,secretary and inserting the ,social ,security ,trust ,fund2 7,c7 in sections #aaca7;b77#b7 and #aadj7;c77#b71 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 7,d7 in section #aade7;c7-- 7i7 by striking paragraphs 7#a7 and 7#b7 and inserting the following3 7#a7 the ,social ,security ,trust ,fund2 2 and 7ii7 by redesignating paragraphs 7#c7 and 7#d7 as paragraphs 7#b7 and 7#c71 respectively2 and 7,e7 in section #aadh7;j77#a77;,a7-- 7i7 in the first sentence1 by striking the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting the ,social ,security ,trust ,fund2 and 7ii7 by striking the second sentence4 7#d7 ,title ,,xviii ,title ,,xviii of the ,social ,security ,act 7#db ,u4,s4,c4 #acie7 is amended-- 7,a7 in section #ahag7;g71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and from the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 7,b7 in section #ahdj7;a77#b71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7,c7 in section #ahda7;f71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and from the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund4 7f7 ,conforming amendments outside of ,social ,security ,act 7#a7 ,budget 7,a7 ,off-budget exemption ,section #dje7;a7 of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fee7;a77 is amended by striking ,federal ,old-,age and ,survivors ,insurance and ,federal ,disability ,insurance ,trust ,funds and inserting ,social ,security ,trust ,fund4 7,b7 ,sequestration exemption ,section #bee7;g77#a77;,a7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ije7;g77#a77;,a77 is amended by striking ,payments to ,social ,security ,trust ,funds and inserting ,payments to the ,social ,security ,trust ,fund4 7#b7 ,tax 7,a7 ,taxable wages ,section #caba7l77#d7 of the ,internal ,revenue ,code of #aihf is amended by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund4 7,b7 ,overpayments 7i7 ,section #fdjb7;d77#c77;,c7 of the ,internal ,revenue ,code of #aihf is amended by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund1 whichever is certified to the ,secretary as appropriate by the ,commissioner of ,social ,security and inserting ,social ,security ,trust ,fund4 7ii7 ,subsection 7f77#b77;,b7 of section #cgbj;,a of title #ca1 ,united ,states ,code1 is amended by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund1 whichever is certified to the ,secretary of the ,treasury as appropriate by the ,commissioner of ,social ,security and inserting ,social ,security ,trust ,fund4 7#c7 ,false claims penalties ,subsection 7g77#b7 of section #chjf of title #ca1 ,united ,states ,code1 is amended-- 7,a7 in subparagraph 7,b7-- 7i7 by striking ,secretary of ,health and ,human ,services and inserting ,commissioner of ,social ,security2 and 7ii7 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 and 7,b7 in subparagraph 7,c7-- 7i7 by striking ,secretary of ,health and ,human ,services and inserting ,commissioner of ,social ,security2 and 7ii7 by striking ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund4 7#d7 ,railroad ,retirement ,board ,section #g of the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bca;f7 is amended-- 7,a7 in subsection 7b77#b71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund and the ,federal ,disability ,insurance ,trust ,fund and inserting ,social ,security ,trust ,fund2 7,b7 in subsection 7c77#b7-- 7i7 by striking ,secretary of ,health1 ,education1 and ,welfare each time it appears and inserting ,commissioner of ,social ,security2 and 7ii7 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 the ,federal ,disability ,insurance ,trust ,fund1 each time it appears and inserting ,social ,security ,trust ,fund2 and 7,c7 in subsection 7c77#d71 by striking ,federal ,old-,age and ,survivors ,insurance ,trust ,fund1 the ,federal ,disability ,insurance ,trust ,fund1 and inserting ,social ,security ,trust ,fund4 7g7 ,rule of construction ,effective beginning on ,january #a of the first calendar year beginning after the date of the enactment of this section1 any reference in law to the ,federal ,old-,age and ,survivors ,insurance ,trust ,fund or the ,federal ,disability ,insurance ,trust ,fund is deemed to be a reference to the ,social ,security ,trust ,fund4 7h7 ,effective date ,the amendments made by this section shall take effect on ,january #a of the first calendar year beginning after the date of the enactment of this section4