Social Security Amendments of 1999

Social Security Amendments of 1999 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act (SSA) to: (1) make additional appropriations as specified from the general fund in the Treasury for periodic transfer to the Federal Old-Age and Survivors Insurance Trust Fund (social security trust fund) for FY 2000 through 2014, with the transferred amounts to be invested in the same manner and to the same extent as other Trust Fund assets; (2) revise provisions with regard to the investment of the social security trust funds (which include the Federal Disability Insurance Trust Fund); (3) add provisions for governing the investment of the Federal Old-Age and Survivors Insurance Trust Fund in common stock; and (4) modify provisions on adjustment of the contribution and benefit base.

Amends SSA title VII (Administration) to establish in the Social Security Administration an Independent Social Security Investment Oversight Board to, among other duties, establish policies for investments in common stock of accounts in the Common Stock Investment Account (established by this Act) of the Federal Old-Age and Survivors Insurance Trust Fund, an Account mandated for establishment by this Act.