A bill to provide for the issuance of certificates to Social Security beneficiaries who are born before 1950 guaranteeing their right to receive Social Security benefits under title II of the Social Security Act in full with an accurate annual cost-of-living adjustment.
Social Security Guarantee Act of 2005 - Directs the Secretary of the Treasury to issue a benefit guarantee certificate to each individual born before 1950 who is determined by the Commissioner of Social Security as of the date of the issuance of the certificate to be entitled to benefits under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act.
States that any such certificate constitutes budget authority in advance of appropriations Acts, and represents the obligation of the federal government to provide for the payment to the individual to whom the certificate is issued benefits under OASDI in amounts in accordance with the guarantee set forth in the certificate.
Referred to the Subcommittee on Social Security.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S10379-10380)
Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S12828-12829)
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