Personal Retirement Accounts Act of 1999

[AI summary unavailable — showing source text] Personal Retirement Accounts Act of 1999 - Establishes in the Treasury the Save Social Security First Trust Fund (Trust Fund). Appropriates specified amounts to it for FY 1999 and 2000 for investment in public debt securities, with investment income credited to the Trust Fund. Prohibits Trust Fund amounts from being appropriated or used for any purpose other than transfer to the Personal Retirement Savings Fund (PRSF) established by this Act under the Personal Retirement Accounts Program for the benefit of individuals eligible for personal retirement savings accounts (PRSAs) (eligible individuals). Slates the Trust Fund for dissolution upon the transfer of all its amounts to PRSF. (Sec. 4) Amends the Social Security Act (SSA) to create a new title I, Personal Retirement Accounts Program (PRAP), redesignating current SSA title I (Old Age Assistance) as SSA title VI. Establishes in the executive branch, to administer PRAP, a Personal Retirement Accounts Board (Board), which shall appoint an Executive Director to manage the PRSF. Appropriates specified amounts for FY 2001 through 2004 for the Secretary of the Treasury to transfer to the PRSF, along with amounts in the Trust Fund, wher…