Saving Social Security Act of 2005

[AI summary unavailable — showing source text] Saving Social Security Act of 2005 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to add a new part B (Investment-Based Social Security) outlining a new program to allow any individual born on or after January 1, 1963, and meeting certain criteria, to receive Social Security benefits from a portion of their wages or self-employment income that has been contributed to a designated Social Security savings account for employees (SAFE Account) for investment. Guarantees a total monthly benefit to be not less than the monthly benefit promised under the current OASDI program (which is redesignated as part A (Debt-Based Social Security)). Allows certain individuals to elect to waive SAFE account eligibility. Establishes in the Treasury a SAFE Investment Fund which shall be maintained in the same manner as the Thrift Savings Fund (for federal employees and Members of Congress) and in which a SAFE Account for each such investing individual shall be established. Requires the Fund to charge each investing worker in the Fund a single, uniform annual administrative fee not to exceed 0.57% of the value of the assets invested in the worker…