HR 633 · 106th Congress · Economics and Public Finance
Retirement Trust Fund Integrity Act of 1999
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Health and Environment, for a period to be subsequently determined by the Chairman.(1999-04-12)
Plain Language Summary
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Retirement Trust Fund Integrity Act of 1999 - Establishes in the Treasury the Retirement Investment Fund (Fund). Requires the transfer to the Fund of that portion of each of the following trust funds that is not required to meet current withdrawals: the Civil Service Retirement and Disability Fund; the Department of Defense Military Retirement Fund; the Federal Disability Insurance Trust Fund; the Federal Hospital Insurance Trust Fund; the Federal Old-Age and Survivors Insurance Trust Fund; the Federal Supplementary Medical Insurance Trust Fund; and the Railroad Retirement Account. Directs the Retirement Trust Fund Investment Board to establish for the Fund a Common Stock Index Investment Fund for the investment of Fund assets. Requires an annual examination and report by a qualified public accountant of Fund books and records. Provides fiduciary responsibilities. Establishes the Retirement Trust Fund Investment Board as an independent agency, with an Executive Director chosen by Board members. Requires the Executive Director to report to each House of Congress and specified congressional committees on the state of the Fund. Prohibits Fund receipts and disbursements from being coun…
Summarized by Claude AI · Non-partisan · For informational purposes only