A joint resolution to establish a National Commission on Social Security.

Establishes the National Commission on Social Security to consist of 9 members to conduct a continuing study, investigation, and review of: (1) the Federal old-age, survivors, and disability insurance program established by title II of the Social Security Act; and (2) the health insurance programs established by title XVIII of such Act.

Provides that such study, investigation, and review of such programs shall include, but not be limited to: (1) the fiscal status of the trust funds established for the financing of such programs and the adequacy of such trust funds to meet the immediate and long-range financing needs of such programs; (2) the scope of coverage, the adequacy of benefits, and the conditions of qualification for benefits provided by such programs; (3) the impact of such programs on, and their relation to, public assistance programs, nongovernmental retirement and annuity programs, medical service delivery systems, and national employment practices; (4) the quality of the administration of such programs; and (5) any inequities which affect substantial numbers of individuals who are insured under such programs.

Provides that the Commission shall meet at the call of the Chairman, or at the call of a majority of the members of the Commission; except that meetings of the Commission shall be held not less frequently than once in each calendar month which begins after a majority of the authorized membership of the Commission has first been appointed.

Requires the Commission to submit an annual report of its study, investigation, and review of programs, together with its recommendations with respect to such programs, to the President and to the Congress.

Authorizes the Commission to appoint an Executive Director of the Commission who shall be compensated at a rate fixed by the Commission, but which shall not exceed the rate established for level V of the Executive Schedule.

Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this joint resolution.

Makes it the duty of the Health Insurance Benefits Advisory Council to provide timely notice to the Commission of any meeting thereof, and the Chairman of the Commission (or his delegate) shall be entitled to attend any such meeting.

Repeals the Advisory Council on Social Security.