Social Security Administration Act

Social Security Administration Act - Title I: Social Security Administration - Amends title VII (Administration) of the Social Security Act to establish as an independent Executive agency the Social Security Administration (the Administration). Provides that the Administration shall administer the Old Age, Survivors and Disability Insurance program under title II of the Social Security Act, the supplemental security income program under title XVI of such Act, the Medicare program under title XVIII of such Act, and the Black Lung benefits program under title IV of the Federal Coal Mine Health and Safety Act of 1969. Requires that the Administration study and make recommendations as to methods of providing economic security through social insurance and submit to Congress an annual report on its activities. Provides for the appointment of an Executive Director and a General Counsel for the Administration.

Amends part B (Professional Standards Review) of title XI of the Social Security Act to authorize the Administration to waive any or all of the reviews, certification, or similar activities required under title XVIII with respect to health care services if it finds such activities are not needed based on substantial evidence of the effective performance of review and control activities by Professional Standards Review Organizations (PSRO's).

Requires the Secretary of Health and Human Services to consult with the Administration in correlating the functions of the PSRO's and other agencies and in determining the amount of funds for administration of part B of title XI of the Social Security Act payable from the Federal Hospital Insurance Trust Fund.

Abolishes the position of Commissioner of Social Security. Provides that all orders, rules, regulations, permits, and contracts already issued or made, pending proceedings, causes of action, and criminal prosecutions or penalties shall continue in effect. Subjects the orders and actions of the Administration to judicial review, and transfers to the Administration the authority of the Secretary of Health and Human Services with respect to the exercise of its functions.

Title II: Miscellaneous and Conforming Amendments - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to prohibit the inclusion of material unrelated to title II or title XVIII of such Act or containing the name, signature, or title of an officer of the U.S. Government with any benefit check. Amends the Budget and Accounting Act, 1921, to require that the Budget set forth separately items attributable to receipts of, and expenditures from, the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund.