PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Employer-Employee Relations.
Congressional Research Service
Version 00 · Introduced in House · Feb 1, 1996
Personal Investment Plan Act of 1995 - Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require covered employers to have a plan for withholding certain contributions from the wages of their eligible employees electing to participate for investment according to the individual employee's personal investment plan. Defines personal investment plan as: (1) any personal investment retirement plan restricted to certain contribution deposits in the Personal Investment Fund, established in the Treasury by this Act; or (2) any individual retirement plan restricted to certain contribution deposits and administered or issued by a bank. Requires the Personal Investment Fund to be governed by a Personal Investment Fund Board under a system similar to the Thrift Savings Program for Federal employees. Covers self-employed individuals. Specifies reduced social security tax rates for participating employees and self-employed individuals. Sets forth civil penalties for employers who fail to establish a personal investment payroll deduction plan or observe certain requirements with respect to it. Provides for adjustments to primary insurance amounts under the OASDI program.
People & committees
Rep. Porter, John Edward [R-IL-10] · R–IL
Legislative record
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Referred to the Subcommittee on Employer-Employee Relations.
Referred to the Subcommittee on Social Security.
Referred to the Committee on Ways and Means, and in addition to the Committee on Economic and Educational Opportunities, 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 Committee on Economic and Educational Opportunities, 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 Committee on Economic and Educational Opportunities, 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: Mar 23, 2026. Consult Congress.gov for the current record.
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