Social Security Solvency Act of 1996

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Individual Retirement Security Program Title II: Social Security Benefit Reforms Social Security Solvency Act of 1996 - Title I: Individual Retirement Security Program - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to direct the Commissioner of Social Security to publish in the Federal Register each year the reallocation percentage for amounts otherwise appropriated for the following fiscal year to the OASDI trust funds from Federal Insurance Contributions Act (FICA) taxes imposed with regard to wages and self-support income. Defines reallocation percentage as the Commissioner's best estimate of the maximum percentage by which such appropriations may be reduced: (1) in any fiscal year before FY 2012, so as to maintain a linear annual reduction in the trust funds performance ratio from the amount of such ratio for the fiscal year preceding such fiscal year to an amount of such ratio for FY 2012 equal to 1.00; and (2) in any fiscal year after FY 2011, so as to maintain a trust funds performance ratio for such fiscal year of 1.00. Defines trust funds performance ratio for any fiscal year as the ratio…