21st Century Retirement Security Act

[AI summary unavailable — showing source text] 21st Century Retirement Security Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to require the Commissioner of Social Security to: (1) establish an individual security account (ISA) for each eligible individual in the Individual Security Fund (ISF); and (2) credit the contributions transferred from the Federal Old-Age and Survivors Insurance Trust Fund (Trust Fund) that result from reduced Federal Insurance Contributions Act (FICA) tax rates (provided for in this Act), as well as other specified contributions involving certain tax overpayments treated as contributions and certain rollovers. Requires investment of an ISA in a manner similar to that under the Thrift Savings Plan for Federal employees. Establishes in the Treasury an Individual Security Fund composed of all established ISAs, and managed by an Individual Security Fund Board established in the Social Security Administration. Provides for an alternative ISA privately-administered by a certified institution. Prescribes rules for: (1) distribution of an eligible individual's ISA's funds; (2) off-budget treatment of the ISF and any federally-administered ISAs with…