PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Social Security.
Congressional Research Service
Version 00 · Introduced in House · Apr 21, 2005
Social Security Personal Savings Guarantee and Prosperity Act of 2005 - Amends title II (Old Age, Survivors, and Disability Insurance) (OASDI) of the Social Security Act (SSA) to establish: (1) a new part B (Personal Social Security Savings Program); and (2) the Social Security Personal Savings Fund in the Treasury, consisting of a separate Tier I Investment Fund and Tier II Investment Fund. Restricts participation in the program to certain individuals born on or after January 1, 1950. Allows a participating individual to elect to direct transfers from the Savings Fund, credited to his or her personal Social Security savings account, into one or more specified Tier III Investment Options. Prescribes requirements for personal Social Security savings annuity and other distributions. Establishes a Personal Social Security Savings Board to administer the program and set policies for the investment and management of the Savings Fund.
Provides for recapture of corporate tax on yields attributable to personal Social Security savings account investments.
Amends the Internal Revenue Code (IRC) to exempt the Social Security Personal Savings Fund and each Tier III Investment Option from income taxation. Excludes from gross income any qualified distribution from amounts credited to a personal Social Security savings account.
Showing the opening paragraphs of the official summary.
Amends SSA title II part B to create in the Treasury the Self-Liquidating Social Security Transition Fund.
Amends SSA title VII (Administration) to prohibit receipts and disbursements of the Social Security and related trust funds from being counted as new budget authority, outlays, receipts, or deficit or surplus.
Amends SSA title II to dedicate budget surpluses to saving Social Security.
Amends IRC to provide for a reduction of FICA rates resulting from the program.
Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to provide for spending safeguards on the growth of entitlements and mandatories.
People & committees
Rep. Ryan, Paul [R-WI-1] · R–WI
Legislative record
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Referred to the Subcommittee on Social Security.
Sponsor introductory remarks on measure. (CR E750)
Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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