Individual Social Security Retirement Account Act of 1995

[AI summary unavailable — showing source text] Individual Social Security Retirement Account Act of 1995 - Amends the Internal Revenue Code to reduce the social security taxes on employees and employers by the authorized tax reduction for any calendar year under this Act. Defines the "authorized tax reduction" under the Code as half the sum of the excess of the total unadjusted Old Age and Survivors Insurance (OASI) tax rate over the adjusted cost rate, plus the value of certain projected receipts for such calendar year of the Federal Old Age and Survivors Insurance Trust Fund. Requires the Commissioner of Social Security to determine, according to specified formulae, and publish by November 1 of each calendar year, the total unadjusted OASI rate and the adjusted cost rate for the following calendar year. Reduces the self-employment tax by the authorized tax reduction for such tax, defined as the full sum of the excess of the total unadjusted OASI tax rate over the adjusted cost rate, plus the value of certain projected receipts for such calendar year of the Federal Old Age and Survivors Insurance Trust Fund. Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to reduce an individual…